Saudi Fashion Commission Launches ‘The Lab’ Fashion Industry Studio in Riyadh 

Officials are seen at the launch event in Riyadh on Tuesday. (SPA)
Officials are seen at the launch event in Riyadh on Tuesday. (SPA)
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Saudi Fashion Commission Launches ‘The Lab’ Fashion Industry Studio in Riyadh 

Officials are seen at the launch event in Riyadh on Tuesday. (SPA)
Officials are seen at the launch event in Riyadh on Tuesday. (SPA)

The Saudi Fashion Commission launched on Tuesday “The Lab,” Saudi Arabia’s first-of-its-kind studio for fashion product development.

The launch event was attended by officials, industry specialists, media representatives, and government entities at The Lab's headquarters in the Mohammed bin Salman Nonprofit City, “Misk City,” in Riyadh.

Fashion Commission CEO Burak Cakmak said The Lab sheds light on the progress and prosperity of the fashion industry in the Kingdom, serving as the first studio of its kind in the region, situated in the heart of Riyadh.

He noted that the studio facilitates the fashion manufacturing process, enabling local designers and brands to easily achieve their creative visions.

The Lab enhances innovation and provides essential support throughout the fashion cycle, Cakmak added.

Cakmak said The Lab not only focuses on promoting creativity, but also supports sustainable practices within the industry, embodying a deep commitment to developing a thriving fashion ecosystem in Saudi Arabia.

Moreover, the Lab represents a qualitative leap and an unprecedented initiative in the fashion industry in the Kingdom, he stated.

It provides advanced infrastructure equipped with cutting-edge technologies to boost manufacturing capabilities and foster innovation within the Kingdom.

The studio also offers local designers and businesses the opportunity to showcase their creativity under the “Made in Riyadh” label, Cakmak said.

Misk City CEO David Henry said The Lab aims to develop fashion products in the city, serving as a distinctive mark that will elevate the fashion industry in the Kingdom.

The studio will also allow local designers and businesses to showcase their creations at both the local and global levels, Henry added.

He highlighted Misk City’s contribution to promoting national retail brands in the fashion sector and supporting and developing small and medium-sized local companies.

The Lab highlights the broad support for the development of the fashion sector and aims to enhance the partnership between the Fashion Commission and Misk City.

Additionally, the studio seeks to support cooperation in the development of education and training programs for young Saudi designers and open new avenues for investment in the fashion sector in Saudi Arabia.

This positions The Lab as the starting point for hosting fashion events and festivals in Misk City.

The launch event was attended by Misk Foundation CEO Badr Al-Badr and the foundation’s deputy CEO Omar Najjar.



Hermes 2Q Sales Rise 13% on Continued Appetite for High-End Luxury

People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
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Hermes 2Q Sales Rise 13% on Continued Appetite for High-End Luxury

People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)
People stand with Hermes shopping bags as they wait at a traffic light in Tsim Sha Tsui, a bustling shopping hotspot, in Hong Kong, China December 5, 2023. (Reuters)

Birkin-bag maker Hermes reported a 13% rise in second-quarter sales on Thursday, demonstrating the continued appetite from wealthy shoppers for its luxury handbags, even as less affluent consumers pull back.

Sales at the French luxury group grew to 3.7 billion euros ($4.02 billion), a 13% organic sales rise that strips out currency fluctuations. The figure was in line with analyst expectations, according to a Visible Alpha consensus.

Operating profit for the first half was 3.1 billion euros, compared to a forecast from consensus provider Visible Alpha for 3.2 billion.

One of the most steady performers in the luxury goods sector -- even as economic conditions worsen -- the French group's results stand out after a string of disappointing earnings updates from peers which have raised investor concern about uncertain prospects for the sector in the coming months.

Hermes' famously classic designs and tight management of production and stock have helped reinforce the label's aura of exclusivity, and CEO Axel Dumas told reporters the company had seen "no big interruption in trends".

However, he said Hermes was seeing slightly less traffic with aspirational clients, which was impacting higher volume products like fashion accessories.