8 March 2023
Fondazione Altagamma, the trade association that promotes high-end leathergoods and other luxury brands from Italy, has launched its fourth internationalisation initiative, extending its network to the United Arab Emirates, writes Leatherbiz.
It inaugurated its new network there in Dubai on March 3. Altagamma said it had taken this step “to promote Italy’s excellences and lifestyle in the UAE, an ever-growing market for the luxury industry”.
This is the fourth international project of this kind that Altagamma has launched, following initiatives in Amsterdam in 2018, in Shanghai in 2019 and in New York in 2022.
Like these other projects, the Dubai chapter will give country managers and other local representatives of Altagamma member companies “to discuss and develop storytelling activities and business initiatives together”.
Altagamma president, Matteo Lunelli, said the UAE had been a significant market for the luxury industry for decades, with its performance benefiting from an increase in tourism in the region in recent years.
The UAE’s personal luxury goods market has doubled in value since 2020, Altagamma has said, reaching €5.3 billion in 2022. Of this 47% of total spend was on fashion purchases, including leathergoods. Across all of the Gulf states, the total size of the market is double this amount.