Saudi Arabia’s growing high-income market attracts luxury brands

Hermès recently expanded in the country.

Luxury cosmetics and perfumer retailers are looking to expand in Saudi Arabia as it targets to reach shoppers within the upper-income bracket.

According to Fitch Solutions, consumers within the $50,000-75,000 bracket and $75,000+ bracket are both expected to grow by 2.3 points to 12.8% and 3.1 points to 13.4%, respectively.

“This consumer demographic is the key consumer market for luxury retailers and growth of which points to why luxury companies, like Hermès, are expanding in the country,” the report read in part.

Hermès opened its first perfume and cosmetics store in Saudi Arabia last July 2022. Aside from Hermès, luxury brands such as Dior and Le Labo have also entered the market.

“The relative wealth of the Kingdom’s consumers will open up opportunities for premium and luxury personal care brands with Hermès launching its first perfume and cosmetics store in Saudi Arabia in 2022.”

Follow the link for more news on

Fitch Solutions

APAC luxury retail market

Also Read

GOELIA expands with 9 new store openings in China and Singapore

Gentle Monster opens first flagship boutique in Australia

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit