Saudi Fashion Commission Announces Grand Opening of ‘The Lab' in Misk City

The Saudi Fashion Commission will unveil Tuesday “The Lab”, an  initiative demonstrating a monumental shift in the local fashion industry. (SPA)
The Saudi Fashion Commission will unveil Tuesday “The Lab”, an initiative demonstrating a monumental shift in the local fashion industry. (SPA)
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Saudi Fashion Commission Announces Grand Opening of ‘The Lab' in Misk City

The Saudi Fashion Commission will unveil Tuesday “The Lab”, an  initiative demonstrating a monumental shift in the local fashion industry. (SPA)
The Saudi Fashion Commission will unveil Tuesday “The Lab”, an initiative demonstrating a monumental shift in the local fashion industry. (SPA)

The Saudi Fashion Commission is excited to unveil Tuesday “The Lab,” the first of its kind in the Kingdom, a state-of-the-art product development studio that is poised to revolutionize the fashion manufacturing landscape in Saudi Arabia, the Saudi Press Agency said.
Located at The City Hub in Mohammed bin Salman Nonprofit City (Misk City), The Lab is a flagship initiative demonstrating a monumental shift in the local fashion industry. It reflects the commission's commitment to elevating manufacturing capabilities and fostering innovation within the Kingdom.
By providing cutting-edge manufacturing facilities, The Lab enables local designers, brands, and fashion entrepreneurs to actualize their creative visions, proudly under the “Made in Riyadh” label.
The grand opening of The Lab represents a pivotal moment for the Saudi fashion sector, signaling new opportunities for growth, collaboration, and global competitiveness. Attendees will experience firsthand the advanced technologies and collaborative environment that The Lab offers, marking a significant step towards achieving a vibrant and sustainable fashion industry in Saudi Arabia.
“The Lab showcases the groundbreaking advancement in Saudi Arabia's fashion industry,” said Saudi Fashion Commission CEO Burak Cakmak. “As the premier facility of its kind in the region, located in the heart of Riyadh, it streamlines the manufacturing process, empowering our local designers and brands to effortlessly realize their creative visions. By nurturing innovation and providing essential support throughout the fashion cycle, we not only foster creativity but also champion sustainable practices within the industry. The establishment of The Lab, a local product development studio, exemplifies our profound commitment to cultivating a thriving fashion ecosystem right here in Saudi Arabia.”
“The opening of The Lab at Misk City marks a significant milestone for the fashion industry in Saudi Arabia,” said Misk City CEO David Henry. “This state-of-the-art product development studio will not only revolutionize fashion in the Kingdom but also empower local designers and entrepreneurs to showcase their creativity on a global stage, especially since Misk City will contribute significantly to promoting distinguished national brands in the field of fashion in addition to supporting local companies. We are proud to be part of this transformative project and look forward to seeing the positive impact it will have on the industry.”
The partnership will enable enhanced cooperation between both entities to develop education and training programs for young Saudi designers, explore opportunities for incubation of entrepreneurs, and attract talent and investors to the Kingdom’s fashion sector. The partnership also lays the foundation for cooperation in hosting various fashion-related events and festivals at Misk City.
Esteemed members of the fashion industry, media, and government representatives are anticipated to attend Tuesday, highlighting the broad support for this transformative project in inaugurating the space. The event will showcase local fashion talents and demonstrate the potential housed within this innovative facility.
The Saudi Fashion Commission invites practitioners, brand owners, and designers in the fashion industry to join this historically exceptional space to be part of the dawn of a new era in fashion manufacturing. It aims to develop the fashion sector in Saudi Arabia through strategic initiatives that fosters innovation and talents, promote economic diversification, and enhance cultural exchange.



Pandora’s 2024 Operating Profit Growth Now Seen at Upper End of Guided Range

Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)
Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)
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Pandora’s 2024 Operating Profit Growth Now Seen at Upper End of Guided Range

Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)
Pandora said it now expects full-year organic operating profit growth of between 11% and 12%. (Getty Images for Pandora Jewellery)

Denmark's Pandora , the world's biggest jewellery maker, said on Wednesday it now expects operating profit growth this year at the upper end of its forecasted range while it reported quarterly operating profit a tad below forecasts.

"We are very pleased with our strong results this quarter, particularly in the context of the current macroeconomic backdrop," CEO Alexander Lacik said in a statement.

Operating profit rose to 980 million Danish crowns ($140.87 million) in the third quarter from 920 million a year earlier, slightly below the forecast of 991 million in a company-compiled poll.

Pandora said it now expects full-year organic operating profit growth of between 11% and 12% compared to its previously guided range of 9-12%. The company also raised its outlook in May and August.

It still expects an operating margin this year of around 25%.