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Tashkeela Exhibition Exposes Saudi Designers to Int’l Fashion Markets

The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)
The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)
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Tashkeela Exhibition Exposes Saudi Designers to Int’l Fashion Markets

The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)
The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)

The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front, offering a platform for local talent and brands to unveil their latest collections, The Saudi Press Agency said on Monday.
From ready-to-wear to high-end fashion, the exhibition, which lasts until March 19, boasts a diverse range of designs, including accessories, handbags and shoes, jewelry, and perfumes.
This wide-ranging display is expected to cater to the taste of a wide audience, and attract local fashion experts, influencers with a keen eye for trends, and investors seeking to support the burgeoning Saudi fashion sector.
Shoppers eager to discover the latest styles and champion local businesses will also find themselves immersed in a dynamic fashion experience.
Fashion Commission CEO Burak Çakmak said in an interview with SPA at the opening of the exhibition that the commission's primary objective is to bolster the fashion industry both locally and internationally. This entails creating opportunities for Saudi brands to access retail markets in the Kingdom of Saudi Arabia and globally.
The event highlights the work of over 160 Saudi designers, including participants in the commission's "100 Saudi Brands" program, which offers training and guidance throughout the year to empower Saudi fashion designers and establish them as successful brands.
The "Tashkeela" exhibition enjoys clear success – the first edition attracted a staggering 22,000 visitors in the course of four days. Building on that achievement, the second edition features not only Saudi designers but also designers from Arab and other countries. This creates a dynamic platform for showcasing diverse fashion talents, Çakmak said.

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Fashion

Kering Posts 11% Drop in Q2 Sales, Sees Weak Second Half

The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)
The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)
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Kering Posts 11% Drop in Q2 Sales, Sees Weak Second Half

The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)
The logo of luxury brand Gucci is seen in Tokyo on June 22, 2021. (AFP)

Kering reported a bigger-than-expected drop in second-quarter sales and forecast a weak second half, as the French luxury group struggles to revive its key label Gucci and worries grow about a prolonged downturn in high-end spending.

Sales at the French luxury group which owns labels Gucci, Boucheron and Balenciaga, fell to 4.5 billion euros ($4.9 billion), an 11% drop on an organic basis, which strips out currency effects and acquisitions.

The figure was below analyst expectations for a 9% drop, according to a Visible Alpha consensus.

It also said second-half operating income could fall by around 30%, following a 42% drop in the first half.

Sales at Gucci fell 19%, showing no improvement from the first quarter, and below analyst expectations for a 16% decline, according to a Visible Alpha consensus.

Kering has been revamping Gucci, the century-old Italian fashion house which accounts for half of group sales and two-thirds of profit.

Minimalist designs from new creative director Sabato de Sarno, which began trickling into stores earlier this year, are key to the design reset and push upmarket, in a bid to cater to wealthier clients who are more immune to economic headwinds.

Kering chief financial officer Armelle Poulou told reporters that the designs had been well received and the rollout was on track.

But the efforts have been complicated by a downturn in the global luxury market, while China's rebound - traditionally Gucci's most coveted market - was clouded by a property crisis and high youth unemployment as Western markets came down from a post-pandemic splurge.

Earnings from sector bellwether LVMH on Tuesday missed expectations as sales rose 1%, offering few signs that a pickup is around the corner, sending shares in luxury goods companies down on Wednesday. Kering traded at its lowest level since 2017.