Luxury Goods Qatar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.55 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Luxury Goods Qatar Market Analysis
The Qatari luxury goods market is expected to witness a CAGR of 2.55% during the forecast period.
- Qatar is a rising luxury goods market with prominent fashion brands such as Valentino and landmark department stores including Harrods and Printemps. Qatar is also focusing on developing its own luxury label named Qela.
- However, with the impact of COVID-19, the closed stores in tandem with limited shopping timings led the market to change its scenario, allowing online stores to grab the opportunity. Also, consumers in Qatar are considered the biggest buyers of goods in the Middle East, and the luxury goods industry is poised for the huge potential for growth in coming years.
- The rising Internet penetration has provided consumers with easy access to information about products, and they can easily compare the prices of different products. Furthermore, consumer preferences are changing, wherein more demand is placed on innovative jewelry designs, supporting market demand and growth for luxury goods in the Qatar market over the forecast years.
- However, factors such as pricing fluctuations, inflation rates, and political uncertainties in Qatar are expected to hinder market growth over the forecast period.
Luxury Goods Qatar Market Trends
This section covers the major market trends shaping the Qatar Luxury Goods Market according to our research experts:
Qatar becoming the Luxury Fashion Hub to Support Market Growth
- Qatar is the rising luxury fashion hub as there is high demand for modes of fashion in the country. Also, there is a wide presence of consumers attracted to buying luxury products and accessories from retailers and other organized retail spaces going through the expansionary stage.
- In addition, multiple regional and international retailers are expanding across the country and investing in the luxury fashion segment, further encouraging consumers to spend a considerable amount on luxury fashion products.
- The luxury goods market in Qatar is witnessing a rising rate of urbanization along with changed preferences for fashion goods due to the rising disposable income of the consumers in the country. The manufacturers are focusing on expanding their product lines through product innovation.
- For instance, jewelry players focus on developing new and innovative designs with the help of advanced technologies such as rapid prototyping (RP) and computer-aided design (CAD), which plays a significant role in incorporating 3D jewelry printing.
- In addition, the shift towards online purchase mediums is leading to third-party partnerships to enhance their profit margins, which benefits manufacturers. Thus, all such factors are expected to support market demand and growth in the Qatar luxury goods market.
Mono Branding to Support Qatar Luxury Goods Market Demand
- Qatar is increasingly becoming a fashion hub in the Middle East, and the sale of personal luxury goods is rising. The country has the presence of multiple luxury brands along with high-end luxury health and beauty boutiques. It has a large and affluent consumer base, which has induced several luxury retailers to enter the country's organized retail space.
- Single-branded stores are highly influencing the quality-oriented customers in the country with a wide range of products, making it one of the major retail channels in the market.
- Mono-brand stores of Fendi, Dior, Valentino, Gucci, Bottega Veneta, Celine, Michael Kors, Tom Ford, Bottega Veneta, Givenchy, Loro Piana, Saint Laurent, Ferragamo, Tom Ford, Versace, Chloe, other major international luxury fashion brands opened in Qatar.
- Also, some key projects included the Place Vendome, which features a canal running to the sea with an open plaza experience overlooking the waters and offers customers a wide range of shopping, dining, and entertainment experiences. It has nearly 600 retail outlets, including luxury designer stores, and hosts a wide range of dining options, a hypermarket, a lively dancing fountain, family entertainment, and a cinema complex. Thus, such factors are bound to support the growth of mon-brand stores over the years.
Luxury Goods Qatar Industry Overview
The Qatar luxury market is moderately fragmented, with a major share of the market taken by many small local players tying up with luxury retailers across various sectors such as fashion, jewelry, and other accessories such as eyewear and leather goods. The presence of an affluent consumer base has also attracted several luxury retailers to the city. With Qatar's organized retail space going through a rapid expansion and a strong pipeline of mall openings, several international and regional retailers continue to establish and expand their presence in the country. Prominent market players include Chanel, LVMH, Rolex, Kering, Joyalukkas, and Giorgio Armani, among others.
Luxury Goods Qatar Market Leaders
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Chanel
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LVMH
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Rolex
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Kering
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Joyalukkas
*Disclaimer: Major Players sorted in no particular order
Luxury Goods Qatar Market News
- November 2022: A luxury e-commerce website, Ounass, was launched in Qatar, where consumers can shop for luxury brands, including Gucci, Saint Laurent, Balenciaga, etc. Consumers can shop for men's, women's, and children's ready-to-wear clothing, handbags, footwear, cosmetics, fine jewelry, and home goods.
- April 2022: Louis Vuitton, a leading global French luxury fashion house, announced the launch of its first store at Qatar Duty-Free in Hamad International Airport, Doha. This space will offer consumers leather goods, ready-to-wear, textiles, watches, jewelry, accessories, fragrances, and shoes for both men and women.
Luxury Goods Qatar Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Drivers
4.2 Market Restrains
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products/Services
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Clothing and Apparel
5.1.2 Footwear
5.1.3 Bags
5.1.4 Jewellery
5.1.5 Watches
5.1.6 Other Accessories
5.2 By Distribution Channel
5.2.1 Single Brand Stores
5.2.2 Multi Brand Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 By Gender
5.3.1 Male
5.3.2 Female
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Positioning of Key Players
6.3 Company Profiles
6.3.1 Chanel
6.3.2 LVMH
6.3.3 Rolex
6.3.4 Kering
6.3.5 Joyalukkas
6.3.6 Giorgio Armani
6.3.7 Hugo boss
6.3.8 Puig
6.3.9 PVH
6.3.10 Richemont
6.3.11 Prada SpA
- *List Not Exhaustive
7. MARKET OPPURTUNITIES AND FUTURE TRENDS
8. ABOUT US
Luxury Goods Qatar Industry Segmentation
Luxury goods are those goods that are highly desired and are associated with the status symbol of wealthy and affluent people.
The demand for such goods increases more than what is proportional as income rises, so expenditures on the goods become a greater proportion of overall spending. The Qatar luxury goods market is segmented by type, distribution channel, and gender. Based on type, the market is segmented into clothing and apparel, footwear, bags, jewelry, watches, and other accessories. Based on the distribution channel, the market is segmented into single-brand stores, multi-brand stores, online stores, and other distribution channels. Based on gender, the market is segmented into males and females.
The market sizing and forecasts have been done based on USD million value for each segment.
| By Type | |
| Clothing and Apparel | |
| Footwear | |
| Bags | |
| Jewellery | |
| Watches | |
| Other Accessories |
| By Distribution Channel | |
| Single Brand Stores | |
| Multi Brand Stores | |
| Online Stores | |
| Other Distribution Channels |
| By Gender | |
| Male | |
| Female |
Luxury Goods Qatar Market Research FAQs
What is the current Qatar Luxury Goods Market size?
The Qatar Luxury Goods Market is projected to register a CAGR of 2.55% during the forecast period (2024-2029)
Who are the key players in Qatar Luxury Goods Market?
Chanel, LVMH, Rolex, Kering and Joyalukkas are the major companies operating in the Qatar Luxury Goods Market.
What years does this Qatar Luxury Goods Market cover?
The report covers the Qatar Luxury Goods Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Qatar Luxury Goods Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Luxury Goods in Qatar Industry Report
Statistics for the 2024 Luxury Goods in Qatar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Luxury Goods in Qatar analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
