A new campaign aiming to bring luxury British retail brands to the Middle East has started talks with big names, its UK-based CEO has said.
The Anglo Arab Alliance (AAA) plans to provide “easy and efficient access” into the lucrative Middle Eastern market for the UK’s top-end names.
The launch comes as a report by Ban & Co predicted the Middle East’s luxury goods market is set to grow by 15 percent this year, leading a global uptick in the sector.
By purchasing products directly from the brands, AAA said it will then negotiate, develop and market deals in the region, “cutting out any red tape, cultural differences and legal issues”.
“AAA has worked hard to develop strong relations and strategies to help high-end British businesses gain a foothold in the thriving Middle Eastern market,” said Andrew Lloyd CEO (UK).
“We are already working with a number of very well known British luxury brands and are very excited about the future.”
The Middle East is experiencing a boom in the demand for luxury brands, with French and Italian brands currently dominating the market.
“The decision to open trade solely for British luxury brands is based on AAA’s ethos to promote trade with the Middle East, support and develop home-grown businesses and establish itself as a leading authority, providing high-end British brands with unparalleled service and knowledge of this complex market,” it said in a statement.
It added that the Middle East was “notoriously difficult for luxury brands to penetrate” but with backing from royalty, embassies, consulates and some of the region’s most powerful businessmen, AAA said it was confident it would be able to break down barriers.
AAA said it will negotiate a master licence agreement for the Middle East from British luxury brands and will then purchase substantial quantities from these brands so they will be protected by UK laws.
AAA will then develop and market these products in the Middle East through the single largest network of luxury retailers in the region, it added.
The Anglo Arab Alliance has the backing of the Saudi Arabia General Investment Authority (SAGIA) in the Middle East, The Royal Warrant Holder’s Association in London and UK Trade & Investment.