LONDON — The Saudi Fashion Commission has released the State of Fashion Sector in Saudi Arabia 2024, an annual report published by the Commission to provide key industry insights and data on the growing Saudi fashion industry. The latest edition of the annual report was unveiled to media and guests through a creative showcase at the Saudi Fashion Commission's investment round in London, sponsored by the Future of Fashion Initiative and held at Twenty-Two Mayfair. Attendees were treated to the latest State of Fashion Sector in Saudi Arabia 2024 data presented in a specially designed bag by Saudi brand 1886 which was carried on stage via an interactive display. The annual report provides new insights into the dynamic Saudi fashion landscape, uncovering exciting trends and opportunities for growth and investment. It provides readers with industry data on the state of fashion in Saudi Arabia spanning across fashion, luxury goods, jewelry, cosmetics, and business. The report examines the fashion landscape and provides key insights from industry experts. According to the report, the fashion industry's contribution to GDP reached 2.5% compared to 1.4% last year, and the fashion industry's contribution to jobs increased by 320,000 jobs in 2023, and the share of women in the fashion workforce was 52% in the same year. The report estimated the value of the Saudi fashion market in 2023 to be about $30 billion, and it is expected to reach $42 billion by 2028. Burak Cakmak, CEO of the Commission, stressed that data is essential to understanding and discussing the country's growth in various sectors. He expressed the Commission's pride in being a pioneer in this field, as it will provide a data center that will publish the State of the Fashion Sector in Saudi Arabia report, which will be available to the public, and will showcase opportunities across the value chain. The publication of the report comes as part of the Fashion Commission's commitment to promoting a vibrant and sustainable fashion ecosystem in Saudi Arabia. The Commission provides the latest insights that help shape the future of the regional fashion industry through a data-driven approach. The Commission aims to revolutionize the Saudi fashion industry by providing a leading fashion intelligence platform while highlighting the value chain of the local fashion industry.
