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.



Gucci Sales Slump Continues as Kering Seeks New Designer

FILE PHOTO: The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. REUTERS/Sarah Meyssonnier/File Photo/File Photo
FILE PHOTO: The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. REUTERS/Sarah Meyssonnier/File Photo/File Photo
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Gucci Sales Slump Continues as Kering Seeks New Designer

FILE PHOTO: The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. REUTERS/Sarah Meyssonnier/File Photo/File Photo
FILE PHOTO: The logo of fashion house Gucci is seen outside a store in Cannes, France, May 16, 2024. REUTERS/Sarah Meyssonnier/File Photo/File Photo

French luxury group Kering reported a 12% drop in fourth quarter sales on Tuesday, dragged lower by its Italian brand Gucci, but flagged a slight improvement in major markets China and the United States.
The French conglomerate, which sacked Gucci designer Sabato de Sarno last week as part of its efforts to revive the label, said sales over the last three months of the year were 4.39 billion euros ($4.52 billion), down 12% on a comparable basis, in line with expectations, according to a Visible Alpha consensus cited by UBS.
Sales at Gucci, which accounts for nearly half of group sales and about two thirds of recurring operating profit, were down 24%, below analyst expectations for a 19% drop as the label's aesthetic overhaul failed to win back shoppers, Reuters reported.
Kering's efforts to turn around Gucci with a new, minimalist design approach from De Sarno, who took up the position two years ago, were complicated by a global slump in luxury demand.
The industry's sales rate is the slowest in years, and consultancy Bain & Company estimated they fell globally 2% last year, weighed down by a property crisis in China - a major market for Gucci.
Finance chief Armelle Poulou told reporters the company saw improvement of sales in mainland China and with Chinese shoppers, as well as the US.
"As far as China is concerned, we saw a sequential improvement in our sales of 6 points between Q3 and Q4, an improvement that we also saw in Chinese nationality," she said.
In a statement Kering CEO Francois-Henri Pinault said the company has reached a "point of stabilization, from which we will gradually resume growth".
Full year recurring income from operations came to 2.6 billion euros, slightly higher than Kering guidance in October for 2.5 billion euros.