In a First, Saudi Arabia Holds Fashion Show on Red Sea Shores

Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.
Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.
TT

In a First, Saudi Arabia Holds Fashion Show on Red Sea Shores

Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.
Saudi Arabia’s Ras al-Abyad island witnesses the first ever fashion show on the Red Sea coast.

In April 2018, Riyadh held the first fashion week in Saudi Arabia. Needless to say, the event captured the world’s attention because it had broken the western perception of Saudi women as simple consumers of their products.

At the time, however, the event was a challenge for Saudi women to portray themselves in a different light and indeed they did. They achieved their dreams by showcasing their potential and talent on a global scale.

Even though the event was limited to women and photographs were barred from being posted on social media to preserve the privacy of attendees, it did garner the attention of international media.

Two years later, the Saudi appetite for fashion has not abated, but has grown even stronger and more confidence has been shown in local products. The coming generation believes that locally produced fashion is no less beautiful or elegant than global designs. All they need is a platform or an opportunity to prove it.

The opportunity presented itself just days ago on the shores of Ras al-Abyad island that witnessed the first ever fashion show on the Red Sea coast with 300 guests in attendance.

The event was even more remarkable for being held amid the novel coronavirus pandemic and as the global fashion industry grapples with many challenges.

Mariam Moussalli, founding partner of Niche Arabia, the organizer of the event, said the pandemic did not slow her down, but made her and others even more determined to prove themselves.

She said the crisis paved the way for the opportunity for holding a global event with the efforts of strictly Saudi team.

“All the models, designers, make up artists, photographers and directors come from Saudi Arabia,” she said proudly.

Everyone was excited to take part in the event, seeing it as a challenge to break the West’s stereotypical image of Saudi Arabia, she continued. “It was therefore important for me to have every detail of the event come to life with Saudi efforts, starting with 16 models and everyone working behind the scenes.”

The fashion was inspired from travel, said Moussalli, who described the designs as more of a “cruise” line.

Designer Samah Khashoggi, of Samah Abayas, presented 22 creations inspired by the shores of Jeddah and Yanbu. She said she sought to take traditional Hijaz techniques and merge them with modern motifs.

“It was important for the line to act as a love letter to the Red Sea with all of its mystery and charm,” she added, as reflected in her designs that boasted blue, turquoise and white and coral motifs.



Nike's New CEO Plans to Go Back to Basics in Brand Overhaul Effort

The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)
The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)
TT

Nike's New CEO Plans to Go Back to Basics in Brand Overhaul Effort

The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)
The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, US, March 19, 2019. (Reuters)

Nike's new CEO Elliott Hill warned of a long road to sales recovery for the sportswear giant, but the veteran executive's plan to turn the spotlight on sports like basketball and running, allayed some investor worries.

The company said on Thursday it was expecting third-quarter revenue to drop to low double digits after the embattled sportswear seller's quarterly results beat market estimates.

Hill, in his first public address as CEO on the post-earnings call, said Nike had "lost its obsession with sport" and vowed to put it back on track by refocusing on sport and selling more items at premium prices, Reuters reported.

"The recovery is going to be a multi-year process, but he(Hill) seems to be going back to the roots, back to Nike being Nike," said John Nagle, chief investment officer at Kavar Capital Partners, which owns Nike shares.

"(Hill plans to shift focus) away from some of the streetwear and fashion that had taken over the brand, the heavy discounting and the neglect of retailers. Just taking it back to what worked," Nagle said.

Hill, who was with Nike for more than three decades, returned as CEO in October to revive demand at the firm that has been struggling with strategy missteps that soured its relations with retailers such as Foot Locker.

Earlier this month, Foot Locker CEO Mary Dillon said Hill was "taking the right actions for the brand" and the retailer was "working closely" with Nike to emphasize newer sportswear styles, including Vomero and Air DT Max.

"(The retailers) they want us to get back to being Nike, and they want us to have the unrelenting flow of innovative products... and they want us to get back to delivering bold brand statements that help drive traffic," Hill said.

The company's market share dwindled as rival brands, including Roger Federer-backed On and Deckers' Hoka , lured consumers with fresher and more innovative styles.

Hill also highlighted that a lack of newness led Nike to become too promotional and said he plans to shift to selling more at full price on its website and app.

"With another half year of franchise management coupled with investment to reinvigorate the brand, we believe the next four quarters could be the worst of the margin erosion and earnings per share reductions," Barclays analyst Adrienne Yih said.

At least seven brokerages cut price targets on the stock with some analysts pointing to the lack of a clear timeline for Nike to return to growth.

Shares of Nike, which have lost about half of its value in the last three years, were down nearly about 2% in early trading on Friday.

Nike's forward price-to-earnings ratio for the next 12 months, a benchmark for valuing stocks, was 27.53, compared with 33.47 for Deckers and 32.32 for Adidas.

"A rudderless ship now has a rudder, and a sailor who knows how to drive it," said Eric Clark, portfolio manager at the Rational Dynamic Brands fund that owns Nike shares.