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Saudi Arabia’s Fashion Industry Valued at $24 Billion in Q1 2024

Visitors are seen at an exhibition organized by the Saudi Fashion Commission in Riyadh in March. (SPA)
Visitors are seen at an exhibition organized by the Saudi Fashion Commission in Riyadh in March. (SPA)
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Saudi Arabia’s Fashion Industry Valued at $24 Billion in Q1 2024

Visitors are seen at an exhibition organized by the Saudi Fashion Commission in Riyadh in March. (SPA)
Visitors are seen at an exhibition organized by the Saudi Fashion Commission in Riyadh in March. (SPA)

The total value of the fashion industry in Saudi Arabia reached SAR 92.3 billion ($24.6 billion) during the first quarter of 2024, with local fashion accounting for SAR 46.9 billion ($12.5 billion), according to a report by the General Authority for Small and Medium Enterprises (Monsha’at).

The value of spending on imported brands amounted to SAR 27.4 billion ($7.3 billion), increasing the expected cumulative growth of the fashion sector by 48 percent between 2021 and 2025.

In its report for the first quarter of 2024, Monsha’at highlighted the importance of the fashion sector in the Kingdom and the great investment opportunities available to entrepreneurs.

In his opening letter of the report, CEO of the Fashion Commission Burak Cakmak said the future of fashion in Saudi Arabia will witness further progress and prosperity thanks to the Kingdom’s designers and the visions of its entrepreneurs that will leave an impact on the global fashion scene.

The report featured an interview with Saud Al-Sabhan, Deputy Governor for Entrepreneurship at Monsha’at, who emphasized the Authority’s role in supporting entrepreneurs and owners of SMEs through various programs and initiatives.

CEO and Founder of MAGNiTT Philip Bahoshy said the Kingdom continued to excel in the volume of venture capital investments at the beginning of 2024, with investments worth a total of SAR 900 million ($240 million).

He added that Saudi Arabia has the largest share of the volume of venture capital investments in the Middle East and North Africa region, at 65 percent.

The report reviewed success stories of male and female entrepreneurs in the field, including Princess Deemah bint Mansour bin Saud al-Saud, the founder of Personage, designer Mohammed Khoja, co-founder of Hindamme, and others.

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Fashion

Milan Fashion Week: Prada Projects Youthful Optimism, Not Escapism, in a Turbulent World

Models present creations by Prada during the Milan Fashion Week Men's Spring Summer 2025, in Milan, Italy, 16 June 2024. (EPA)
Models present creations by Prada during the Milan Fashion Week Men's Spring Summer 2025, in Milan, Italy, 16 June 2024. (EPA)
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Milan Fashion Week: Prada Projects Youthful Optimism, Not Escapism, in a Turbulent World

Models present creations by Prada during the Milan Fashion Week Men's Spring Summer 2025, in Milan, Italy, 16 June 2024. (EPA)
Models present creations by Prada during the Milan Fashion Week Men's Spring Summer 2025, in Milan, Italy, 16 June 2024. (EPA)

Without making overt statements, Milan designers expressed their concern over the global turbulence through their collections.

Miuccia Prada said she wanted to project optimism. “Because even if the times are bad, I feel that it was the right thing to do,’’ she said backstage at the Prada show. She is not promoting escapism. “Eventually, I propose something positive, but escapism, I don’t like.”

Not using the platform to comment would be “irresponsible,’’ said the designers behind the Simon Cracker brand, born 14 years ago to contrast the prevailing fashion system with upcycled collections.

They dedicated their collection, titled “A Matter of Principle,” to “the children victims of matters of principle.”

Some highlights from the third day Sunday of mostly menswear previews for Spring-Summer 2025:

Prada projects optimism The Prada menswear collection plays with the idea of imperfection. But nothing is as it seems.

Tops, jackets and hoodies seem shrunken, more than cropped. Overcoats have three-quarter sleeves. It’s a wardrobe somehow inherited, already lived-in. Creases are part of the construction, as technical as a pleat. Pointed shirt collars are held aloft by wires. Trousers feature faux belts, low and below the waistline. Belts also are featured as decoration on bags, as if to close them.

Miuccia Prada, co-creative director of the brand along with Raf Simons, said playing with the idea of the real vs. the fake “is very contemporary,” calling such details “an invitation to take a closer look at the clothes, up close.”

The neutral color palette is punctuated by warm feminine shades: a bright green cardigan, a floral blouse, a turquoise coat, which the designers said suggest a mother’s or grandmother’s wardrobe.

“We wanted (the collection) to be already alive, as if clothes you already lived with,” Simons said backstage.

Prada models emerged from a simple white hut, descending into the showroom down a runway flanked by a white picket fence. The designers describe the setting both as essential and utopian — and youthful.

“Here youth is the hope, it’s the future,” Prada said. “In this moment, we thought it was relevant also to encourage youth to think about our world.”

A world in knots at Simon Cracker So many knots to undo in the world, so many knots holding together the latest Simon Cracker collection of mostly upcycled apparel.

For Spring-Summer 2025, designers Filippo Biraghi and Simone Botte assembled their collection of repurposed apparel castoffs using laces and drawstrings to create skirts from tennis shirt panels, dresses from knitwear and restructure jackets. Each piece is unique.

The “nervous” color palette of black, violet, sea blue and acid green was achieved through dying, each material reacting differently to the process.

“It is a way of recounting what is happening in the world, without being too explicit,” Biraghi said backstage. “It would be irresponsible to not be political in this moment.”

The 14-year-brand’s name is meant to denote that something is broken — cracked — in the fashion system. They embrace imperfection as part of the beauty of their creations, made from forgotten or discarded garments and deadstock fabrics, this time including textiles from Italian sportswear brand Australian.

Australian, which is gaining traction with the club crowd, also created a capsule collection of black neon and technical garments for Simon Cracker, its first production line. Doc Martens provided the footwear, which the designers personalized with pins, badges and costume jewelry.