The Saudi Fashion Commission has unveiled its annual report, the State of Fashion Sector in Saudi Arabia 2024, providing key industry insights and data on the burgeoning Saudi fashion industry.
Presented at an investment event in London, the report was showcased creatively, featuring a custom-designed bag by Saudi brand 1886.
This report offers a comprehensive look at the Saudi fashion landscape, highlighting trends and growth opportunities across fashion, luxury goods, jewelry, cosmetics, and business sectors.
Notably, the fashion industry’s contribution to GDP increased to 2.5%, up from 1.4% last year. Employment in the sector rose by 320,000 jobs in 2023, with women making up 52% of the workforce.
The Saudi fashion market was valued at $30 billion in 2023 and is projected to reach $42 billion by 2028.
Burak Cakmak, CEO of the Commission, emphasized the importance of data in understanding the sector’s growth. He announced plans for a data center to publish the annual report and highlight opportunities within the value chain.
This initiative aligns with the Commission’s goal to foster a vibrant and sustainable fashion ecosystem in Saudi Arabia, utilizing a data-driven approach to shape the industry’s future.