Dubai – Mubasher: In one the of the most luxurious cities in the world, Dubai, high-end products are consumed in a large scale and a rapid pace, which caused both supply and prices to rise in unrealistic proportions.
Meanwhile, second-hand and discounted luxury products market flourishes, as Dubai’s residents buy in amounts that exceed their needs, the CEO of The Luxury Closet Kunal Kapoor told Arabian Business.
While these elite items were made in a very high quality to last for two decades or even more, consumers in Dubai are eager to own new products, buying in so rapid a pace that designers are grasping to coup with it, Kapoor said.
“On the opposite side, you see people who have never bought Louis Vuitton, who dream about buying one product…I clearly saw a huge pain point… And prices go up here.”
The Luxury Closet is a Dubai-based online boutique to buy and sell authentic new and pre-owned luxury designer and fashion goods.
