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Yahoo
2 days ago
- Entertainment
- Yahoo
35 Celebrities Who Dated People With SERIOUS Money
According to Forbes, there are 3,028 billionaires in the world as of 2025. While that number may have average people shouting, "Eat the rich!", some celebrities see it as a potential dating pool. Here are 35 celebrities who dated or married billionaires and their heirs: Cabello was first romantically linked to Henry Junior Chalhoub — who's an heir to the billionaire Chalhoub family — in January 2025. The Chalhoub family founded the Chalhoub Group, a distribution company for luxury fashion. It's based in Dubai. According to Forbes, the family was worth $1.7 billion as of 2019. a few months of dating, Mariah Carey got engaged to investor James Packer in 2016. They broke up eight months later. According to Forbes, his net worth is $3.4 billion. Following their split, Mariah reportedly sued James for a $50 million "inconvenience fee" but settled in the neighborhood of $5–$10 million. She also got to keep her $10 million engagement ring. 2018–2022, Kaley Cuoco was married to equestrian Karl Cook, the son of Intuit founder Scott Cook. According to Forbes, Scott's net worth is $7.7 billion. Related: In 2016, Kaley and Karl met at a horse show and bonded over their mutual love of animals. In 2021, they announced they were separating because they "realized that [their] current paths have taken [them] in opposite directions." 4.A$AP Rocky has been with billionaire singer and businessperson Rihanna since 2020. In 2021, Forbes reported that she achieved billionaire status largely through Fenty Beauty, the makeup brand she launched in partnership with LVMH in 2017. Another large chunk of her wealth — in the neighborhood of $270 million — comes from her stake in Savage x Fenty, the lingerie brand she started in 2018. She's reportedly worth $1 billion. becoming a billionaire herself, Rihanna dated Hassan Jameel from 2017–2020. His family — who own the largest Toyota distribution company in several parts of the Middle East, Abdul Latif Jameel — was reportedly worth a collective $2.2 billion in 2017. XPOS / Cobra Team / BACKGRID 2018, Karlie Kloss married billionaire venture capitalist Josh Kushner. He founded the firm Thrive Capital in 2009 and has invested in companies like Instagram, Instacart, Zola, and Robinhood. Per Forbes, he's worth $3.8 billion. City Chiefs tight end Travis Kelce has been dating billionaire singer Taylor Swift since 2023. According to Forbes, Taylor was the first musician to achieve billionaire status predominantly through her music and performances. She was added to the list in October 2023, largely because of her music catalog and the Eras Tour. Her net worth is $1.6 billion. 2019, YouTube star Gigi Gorgeous married model/designer Nats Getty, who's the great-grandson of oil tycoon J. Paul Getty. Forbes clocked the Getty family's net worth at $5.4 billion in 2015. They met at Paris Fashion Week 2016 when they closed the show put on by August Getty, Nats's brother and Gigi's best friend. However, they filed for divorce in 2025. Peltz Beckham married actor/heiress Nicola Peltz Beckham in 2022. They first met at Coachella in 2017 when one of her brothers introduced them. However, they were both in relationships at the time, but despite not really getting along, they kept in touch. Fast-forward to 2019, and they crossed paths again at Leonardo DiCaprio's Halloween party. The following January, they made things Instagram official. She's the daughter of billionaire investor Nelson Peltz. According to Forbes, his net worth is $1.6 billion. 2017, Miranda Kerr married billionaire Evan Spiegel, the co-founder and CEO of Snapchat. They met when they were seated next to each other at a Louis Vuitton event at NYC's Museum of Modern Art in 2014. According to Forbes, his net worth is $2.8 billion. 2004–2005, Mischa Barton dated Brandon Davis, the grandson of oil baron Marvin Davis, who had a reported net worth of $5.8 billion in 2004, the year he died. The couple reportedly met at a charity event. After the split, they stayed friends. Related: two decades years later, Brandon Davis married a different actor. In 2023, he tied the knot with Ashley Benson several months after going public with their relationship. They reportedly had a lot of friends in common. 2015, hotel heiress Nicky Hilton married James Rothschild, who's the heir to a famous banking family. The couple reportedly met at Petra Ecclestone and James Stunt's Italian wedding in 2011. According to Business Insider, the Rothschild family has an estimated net worth of $1 billion. 2005, Mary-Kate Olsen dated shipping heir Stavros Niarchos III for five months, and their relationship reportedly ended after he publicly cheated on her with a close friend. His father, Philip Niarchos, is reportedly worth $2.8 billion. Hilton was allegedly that close friend. She and Stavros Niarchos III had a brief relationship before ending things in early 2006. in 2005, Paris Hilton had a five-month engagement to shipping heir Paris Kassidokostas-Latsis, whose family has a reported combined net worth of $3.2 billion. Following their split, she auctioned off her 24-carat engagement ring. The proceeds benefitted survivors of Hurricane Katrina. Wilson and Jacob Busch made their relationship Instagram official in late 2020 but ended things four months later. As of 2024, Forbes estimated that his family, which founded the Anheuser-Busch brewing company, had a net worth of $20 billion. Campbell dated real estate developer Vladislav Doronin from 2008–2013. Reportedly, his net worth is an estimated $1 billion. In 2020, he reportedly sued her for $3 million, the value of his personal property he claimed she still possessed. Related: Evangelista and business mogul François-Henri Pinault, who took over the luxury goods conglomerate that his father, self-made billionaire François Pinault, started, were together for four months in 2006. However, they allegedly only spent seven days together in person. His family owns the luxury group Kering, which owns brands like Gucci and Saint Laurent, and their collective net worth is reportedly $19.5 billion. The couple had a son together, Augustin, and were involved in a drawn-out child support case. In her filing, Linda claimed she spent $46,000 a month on expenses like 24-hour nanny care and armed bodyguards. François-Henri's lawyer said that amount was "just ridiculous." Eventually, the former couple reached a private settlement. 2009, Salma Hayek married François-Henri Pinault. The couple reportedly met at a gala held in a marble palace the Pinaults own in 2006. After Salma's wedding, she and Linda became close friends and co-parent Augustin along with François-Henri. still legally married to Melissa Meeks, model Jeremy Meeks — who rose to fame after his mugshot went viral — started dating heiress Chloe Green. They were together from 2017-2019 (he divorced Melissa in 2018). Chloe's parents, Philip and Cristina Green, own Arcadia Group, which consists of British retail chains like Topshop. According to Forbes, their net worth was $2.3 billion in 2022. early 2022, Julia Fox dated Ye (formerly Kanye West) for about a month. At the time, Forbes estimated his net worth to be about $2 billion, but now, following Adidas cutting ties with him over his antisemitic remarks, it's reportedly $400 million. On her TikTok story several months after the breakup, Julia said, "Money coming into a billionaire should go right back into the community that made them rich. That's how I feel about billionaires, they should not exist. They are fucking pariah to our society. There's about 2,500 billionaires, I think, and cumulatively, they own the majority of the wealth of the world so that they can go fuck themselves." Then, addressing the billionaires she's dated, she added, "Yeah that's why I use all of you. That's why I used all of you. Yeah. Never loved any of you guys." Davidson dated billionaire reality star and businessperson Kim Kardashian for about nine months between 2021–2022. According to Forbes, most of her money comes from her shapewear company Skims, and her net worth is $1.7 billion. actor Talulah Riley was married to businessperson Elon Musk not once, but twice — first from 2010–2012, then from 2013–2016. According to Forbes, he's the richest person in the world with a net worth of $403 billion. The couple first started dating after meeting at a bar in London in 2008. After their first divorce, they briefly rekindled their relationship and got remarried because "it felt silly to be together unmarried after having been married." years after his second divorce from Tallulah, Elon started dating Grimes. They were in an on-and-off relationship from 2018–2021. They reportedly first connected on Twitter, which he went on to purchase in 2022. Hall was married to billionaire media magnate Rupert Murdoch, who chairs News Corp and Fox Corp, from 2016–2022. His family is reportedly worth $23.9 billion. Related: They met in summer 2015, when Jerry was touring the stage production of The Graduate in Australia. Rupert's sister's niece introduced the two. However, in June 2022, he allegedly announced his decision to separate in an email, writing, "Jerry, sadly I've decided to call an end to our marriage. We have certainly had some good times, but I have much to do... My New York lawyer will be contacting yours immediately." Their divorce settlement reportedly banned her from giving the Succession writers, who've been heavily inspired by the Murdoch family, any plot ideas. Salwa Aga Khan (née Kendra Spears) was married to Prince Rahim Aga Khan from 2013–2022. Naomi Campbell reportedly introduced them at a party. He's the son of imam and philanthropist Prince Karim Aga Khan IV, who had an estimated net worth of $13.3 billion in 2013, according to Vanity Fair. 2012–2017, Janet Jackson was married to Wissam Al Mana, whose family made their fortune across several industries, included luxury fashion, automotive, real estate, media, and food. They reportedly met at a hotel opening in Dubai in 2010. According to Essence, his net worth is estimated to be about $1 billion. actor Ellen Barkin and billionaire financier Ronald Perelman were married from 2000–2006. They reportedly met at the Vanity Fair Oscars afterparty in 1999. His pickup line was, "So, are you married, or single, or what?" He has a net worth of $1.6 billion, according to Forbes. He allegedly surprised her with a speedy divorce days before their prenup expired. She reportedly got $20 million in the divorce but then sold the jewelry he gave her — her wedding ring included — at auction for $20.3 million. 2008, Beyoncé married Jay-Z. In 2019, he became the first hip-hop artist to achieve billionaire status. Since then, he's more than doubled his wealth through his liquor businesses, including Armand de Brignac Champagne and D'Usse cognac. His fortune also comes from his music ventures, such as Roc Nation and Tidal, and his investments in companies like Uber. His net worth is $2.5 billion. James was married to drag racer Alexis DeJoria from 2013–2020. She's the daughter of John Paul DeJoria, who made his fortune in tequila and haircare. According to Forbes, his net worth is $2.9 billion. John introduced his longtime friend Jesse to Alexis at one of her races in Dallas. In 2020, the couple announced they were separating because "[their] lives were just headed in different directions." Macpherson was married to billionaire real estate developer Jeffrey Soffer from 2013–2017. The pair dated for two years before breaking up for the first time in March 2012. However, after Jeffrey got injured in a helicopter crash that November, they reunited. Forbes estimates his net worth is about $2.2 billion. to dating Jeffrey Soffer, Elle Macpherson dated financier Arpad Busson for nine years before separating in 2005. He's reportedly worth an estimated $1 billion. Uma Thurman was in an on-and-off relationship with Arpad Busson from 2007–2014. They reportedly got engaged twice over the course of their relationship but never made it down the aisle. finally, Jane Fonda was married to media proprietor Ted Turner, who founded CNN, from 1991–2001. Forbes estimates his net worth is $2.8 billion. In 1990, Ted heard that Jane was divorcing Tom Hayden, so, despite not really knowing her, he called her and asked her out. Initially, she said no, but he continued pursuing her for six months until she agreed to go out with him Jane also retired from acting during their marriage, but she later realized that, though staying with a wealthy man would be easy, it would prevent her from becoming everything she could be. The couple also had communication issues due to spending a lot of time apart, which contributed to the end of their marriage. Also in Celebrity: Also in Celebrity: Also in Celebrity: Solve the daily Crossword
Buzz Feed
2 days ago
- Business
- Buzz Feed
Celebrities Who Dated Or Married Billionaires
According to Forbes, there are 3,028 billionaires in the world as of 2025. While that number may have average people shouting, "Eat the rich!", some celebrities see it as a potential dating pool. Here are 35 celebrities who dated or married billionaires and their heirs: Camila Cabello was first romantically linked to Henry Junior Chalhoub — who's an heir to the billionaire Chalhoub family — in January 2025. The Chalhoub family founded the Chalhoub Group, a distribution company for luxury fashion. It's based in Dubai. According to Forbes, the family was worth $1.7 billion as of 2019. After a few months of dating, Mariah Carey got engaged to investor James Packer in 2016. They broke up eight months later. According to Forbes, his net worth is $3.4 billion. Following their split, Mariah reportedly sued James for a $50 million "inconvenience fee" but settled in the neighborhood of $5–$10 million. She also got to keep her $10 million engagement ring. From 2018–2022, Kaley Cuoco was married to equestrian Karl Cook, the son of Intuit founder Scott Cook. According to Forbes, Scott's net worth is $7.7 billion. In 2016, Kaley and Karl met at a horse show and bonded over their mutual love of animals. In 2021, they announced they were separating because they "realized that [their] current paths have taken [them] in opposite directions." A$AP Rocky has been with billionaire singer and businessperson Rihanna since 2020. In 2021, Forbes reported that she achieved billionaire status largely through Fenty Beauty, the makeup brand she launched in partnership with LVMH in 2017. Another large chunk of her wealth — in the neighborhood of $270 million — comes from her stake in Savage x Fenty, the lingerie brand she started in 2018. She's reportedly worth $1 billion. Before becoming a billionaire herself, Rihanna dated Hassan Jameel from 2017–2020. His family — who own the largest Toyota distribution company in several parts of the Middle East, Abdul Latif Jameel — was reportedly worth a collective $2.2 billion in 2017. In 2018, Karlie Kloss married billionaire venture capitalist Josh Kushner. He founded the firm Thrive Capital in 2009 and has invested in companies like Instagram, Instacart, Zola, and Robinhood. Per Forbes, he's worth $3.8 billion. Kansas City Chiefs tight end Travis Kelce has been dating billionaire singer Taylor Swift since 2023. According to Forbes, Taylor was the first musician to achieve billionaire status predominantly through her music and performances. She was added to the list in October 2023, largely because of her music catalog and the Eras Tour. Her net worth is $1.6 billion. In 2019, YouTube star Gigi Gorgeous married model/designer Nats Getty, who's the great-grandson of oil tycoon J. Paul Getty. Forbes clocked the Getty family's net worth at $5.4 billion in 2015. They met at Paris Fashion Week 2016 when they closed the show put on by August Getty, Nats's brother and Gigi's best friend. However, they filed for divorce in 2025. Brooklyn Peltz Beckham married actor/heiress Nicola Peltz Beckham in 2022. They first met at Coachella in 2017 when one of her brothers introduced them. However, they were both in relationships at the time, but despite not really getting along, they kept in touch. Fast-forward to 2019, and they crossed paths again at Leonardo DiCaprio's Halloween party. The following January, they made things Instagram official. She's the daughter of billionaire investor Nelson Peltz. According to Forbes, his net worth is $1.6 billion. In 2017, Miranda Kerr married billionaire Evan Spiegel, the co-founder and CEO of Snapchat. They met when they were seated next to each other at a Louis Vuitton event at NYC's Museum of Modern Art in 2014. According to Forbes, his net worth is $2.8 billion. From 2004–2005, Mischa Barton dated Brandon Davis, the grandson of oil baron Marvin Davis, who had a reported net worth of $5.8 billion in 2004, the year he died. The couple reportedly met at a charity event. After the split, they stayed friends. Nearly two decades years later, Brandon Davis married a different actor. In 2023, he tied the knot with Ashley Benson several months after going public with their relationship. They reportedly had a lot of friends in common. In 2015, hotel heiress Nicky Hilton married James Rothschild, who's the heir to a famous banking family. The couple reportedly met at Petra Ecclestone and James Stunt's Italian wedding in 2011. According to Business Insider, the Rothschild family has an estimated net worth of $1 billion. In 2005, Mary-Kate Olsen dated shipping heir Stavros Niarchos III for five months, and their relationship reportedly ended after he publicly cheated on her with a close friend. His father, Philip Niarchos, is reportedly worth $2.8 billion. Paris Hilton was allegedly that close friend. She and Stavros Niarchos III had a brief relationship before ending things in early 2006. Previously, in 2005, Paris Hilton had a five-month engagement to shipping heir Paris Kassidokostas-Latsis, whose family has a reported combined net worth of $3.2 billion. Following their split, she auctioned off her 24-carat engagement ring. The proceeds benefitted survivors of Hurricane Katrina. Rebel Wilson and Jacob Busch made their relationship Instagram official in late 2020 but ended things four months later. As of 2024, Forbes estimated that his family, which founded the Anheuser-Busch brewing company, had a net worth of $20 billion. Naomi Campbell dated real estate developer Vladislav Doronin from 2008–2013. Reportedly, his net worth is an estimated $1 billion. In 2020, he reportedly sued her for $3 million, the value of his personal property he claimed she still possessed. Linda Evangelista and business mogul François-Henri Pinault, who took over the luxury goods conglomerate that his father, self-made billionaire François Pinault, started, were together for four months in 2006. However, they allegedly only spent seven days together in person. His family owns the luxury group Kering, which owns brands like Gucci and Saint Laurent, and their collective net worth is reportedly $19.5 billion. The couple had a son together, Augustin, and were involved in a drawn-out child support case. In her filing, Linda claimed she spent $46,000 a month on expenses like 24-hour nanny care and armed bodyguards. François-Henri's lawyer said that amount was "just ridiculous." Eventually, the former couple reached a private settlement. In 2009, Salma Hayek married François-Henri Pinault. The couple reportedly met at a gala held in a marble palace the Pinaults own in 2006. After Salma's wedding, she and Linda became close friends and co-parent Augustin along with François-Henri. While still legally married to Melissa Meeks, model Jeremy Meeks — who rose to fame after his mugshot went viral — started dating heiress Chloe Green. They were together from 2017-2019 (he divorced Melissa in 2018). Chloe's parents, Philip and Cristina Green, own Arcadia Group, which consists of British retail chains like Topshop. According to Forbes, their net worth was $2.3 billion in 2022. In early 2022, Julia Fox dated Ye (formerly Kanye West) for about a month. At the time, Forbes estimated his net worth to be about $2 billion, but now, following Adidas cutting ties with him over his antisemitic remarks, it's reportedly $400 million. On her TikTok story several months after the breakup, Julia said, "Money coming into a billionaire should go right back into the community that made them rich. That's how I feel about billionaires, they should not exist. They are fucking pariah to our society. There's about 2,500 billionaires, I think, and cumulatively, they own the majority of the wealth of the world so that they can go fuck themselves." Then, addressing the billionaires she's dated, she added, "Yeah that's why I use all of you. That's why I used all of you. Yeah. Never loved any of you guys." Pete Davidson dated billionaire reality star and businessperson Kim Kardashian for about nine months between 2021–2022. According to Forbes, most of her money comes from her shapewear company Skims, and her net worth is $1.7 billion. Westworld actor Talulah Riley was married to businessperson Elon Musk not once, but twice — first from 2010–2012, then from 2013–2016. According to Forbes, he's the richest person in the world with a net worth of $403 billion. The couple first started dating after meeting at a bar in London in 2008. After their first divorce, they briefly rekindled their relationship and got remarried because "it felt silly to be together unmarried after having been married." Two years after his second divorce from Tallulah, Elon started dating Grimes. They were in an on-and-off relationship from 2018–2021. They reportedly first connected on Twitter, which he went on to purchase in 2022. Jerry Hall was married to billionaire media magnate Rupert Murdoch, who chairs News Corp and Fox Corp, from 2016–2022. His family is reportedly worth $23.9 billion. They met in summer 2015, when Jerry was touring the stage production of The Graduate in Australia. Rupert's sister's niece introduced the two. However, in June 2022, he allegedly announced his decision to separate in an email, writing, "Jerry, sadly I've decided to call an end to our marriage. We have certainly had some good times, but I have much to do... My New York lawyer will be contacting yours immediately." Their divorce settlement reportedly banned her from giving the Succession writers, who've been heavily inspired by the Murdoch family, any plot ideas. Model Salwa Aga Khan (née Kendra Spears) was married to Prince Rahim Aga Khan from 2013–2022. Naomi Campbell reportedly introduced them at a party. He's the son of imam and philanthropist Prince Karim Aga Khan IV, who had an estimated net worth of $13.3 billion in 2013, according to Vanity Fair. From 2012–2017, Janet Jackson was married to Wissam Al Mana, whose family made their fortune across several industries, included luxury fashion, automotive, real estate, media, and food. They reportedly met at a hotel opening in Dubai in 2010. According to Essence, his net worth is estimated to be about $1 billion. Switch actor Ellen Barkin and billionaire financier Ronald Perelman were married from 2000–2006. They reportedly met at the Vanity Fair Oscars afterparty in 1999. His pickup line was, "So, are you married, or single, or what?" He has a net worth of $1.6 billion, according to Forbes. He allegedly surprised her with a speedy divorce days before their prenup expired. She reportedly got $20 million in the divorce but then sold the jewelry he gave her — her wedding ring included — at auction for $20.3 million. In 2008, Beyoncé married Jay-Z. In 2019, he became the first hip-hop artist to achieve billionaire status. Since then, he's more than doubled his wealth through his liquor businesses, including Armand de Brignac Champagne and D'Usse cognac. His fortune also comes from his music ventures, such as Roc Nation and Tidal, and his investments in companies like Uber. His net worth is $2.5 billion. Jesse James was married to drag racer Alexis DeJoria from 2013–2020. She's the daughter of John Paul DeJoria, who made his fortune in tequila and haircare. According to Forbes, his net worth is $2.9 billion. John introduced his longtime friend Jesse to Alexis at one of her races in Dallas. In 2020, the couple announced they were separating because "[their] lives were just headed in different directions." Elle Macpherson was married to billionaire real estate developer Jeffrey Soffer from 2013–2017. The pair dated for two years before breaking up for the first time in March 2012. However, after Jeffrey got injured in a helicopter crash that November, they reunited. Forbes estimates his net worth is about $2.2 billion. Prior to dating Jeffrey Soffer, Elle Macpherson dated financier Arpad Busson for nine years before separating in 2005. He's reportedly worth an estimated $1 billion. Then, Uma Thurman was in an on-and-off relationship with Arpad Busson from 2007–2014. They reportedly got engaged twice over the course of their relationship but never made it down the aisle. And finally, Jane Fonda was married to media proprietor Ted Turner, who founded CNN, from 1991–2001. Forbes estimates his net worth is $2.8 billion. In 1990, Ted heard that Jane was divorcing Tom Hayden, so, despite not really knowing her, he called her and asked her out. Initially, she said no, but he continued pursuing her for six months until she agreed to go out with him Jane also retired from acting during their marriage, but she later realized that, though staying with a wealthy man would be easy, it would prevent her from becoming everything she could be. The couple also had communication issues due to spending a lot of time apart, which contributed to the end of their marriage.
Gulf Business
07-07-2025
- Business
- Gulf Business
GCC luxury market has defied global slowdown, says Chaloub Group's Jasmina Banda
Image: Supplied The Gulf's personal luxury market is thriving, bucking global trends with $12.8bn in sales and a 6 per cent year-on-year growth in 2024, according to GCC Personal Luxury 2024: Unstoppable report. In this interview, Jasmina Banda, chief strategy officer and president of Joint Ventures at Chalhoub Group, unpacks the key findings — from the booming beauty segment and rising digital luxury adoption to the growing influence of tourism and the emergence of next-gen luxury brands in the region. Tell us about the key findings of the report; what intelligence did your team harness to develop this landmark report? As we analyse the findings of our latest GCC Personal Luxury report, one of the most significant findings is that the luxury sector in our region continues to demonstrate resilience and adaptability despite global economic challenges. With retail sales reaching $12.8bn and a growth trajectory that outpaces the international average, we see tremendous potential for brands to leverage this momentum. This document consolidates data from Chalhoub Group, its partners, and estimates for both offline and online markets across six GCC countries: the UAE, Saudi Arabia, Kuwait, Qatar, Bahrain, and Oman. Within its scope, the report analyses luxury trends across four categories: 77 high-end fashion brands, over 1,000 prestige beauty brands and retailers, 30 luxury watch brands, and 16 fine jewellery brands. Consumer insights are grounded in proprietary Chalhoub Group The GCC luxury market grew over 6 per cent in 2024, defying global declines. What key factor is driving this regional resilience and momentum? Several key factors are propelling the upward trajectory of luxury in the GCC: Favourable economic conditions: Strong government initiatives, particularly in Saudi Arabia and the UAE, foster a conducive environment for luxury spending. Retail expansion: The luxury retail landscape is evolving with new store openings and high-end mall developments enhancing consumer access to luxury brands. Consumer spending habits: Resilient consumer confidence and rising disposable incomes drive robust demand for luxury goods. Tourism resilience: Despite regional geopolitical challenges, an influx of affluent tourists continues to drive luxury sales. E-commerce growth: The transition towards online shopping is accelerating, with the e-commerce luxury segment outpacing global growth rates as consumer behaviours evolve. Fashion remains the largest category, while beauty saw the fastest growth at over 12 per cent. What are the consumer behaviours and trends behind this shift? In 2024, fashion remained the largest luxury category in the GCC, accounting for 43 per cent of total personal luxury spend, with a strong over 6 per cent year-on-year growth, mainly driven by ultra high-end brands and new store openings. However, prestige beauty outpaced all categories, registering the fastest growth at over 12 per cent, with skincare emerging as the top-performing subcategory, growing over 17 per cent versus 2023. Fragrance continues to dominate the beauty mix, contributing 49 per cent of total beauty sales. This shift reflects resilient consumer sentiment, with 97 per cent of GCC consumers intending to maintain or increase spending over the next three months. This is also driven by the ongoing retail expansion in the region — enabling greater access and visibility for luxury beauty brands. Despite luxury e-commerce in the GCC accounting for only 13 per cent of sales, it grew over 13 per cent — far ahead of the global average. What's enabling this digital acceleration, and where do you see the biggest opportunities online – either via AI, new products, new client segments? The GCC region is experiencing a surge in luxury e-commerce, with online sales now accounting for 13 per cent of the market — still below the global average of 20 per cent, but showing strong growth potential. In 2024, the region's online luxury channel grew by over 13 per cent, significantly outpacing the global market, which saw a decline of minus 4 to minus 1 per cent. This digital acceleration is fuelled by several factors: high domestic demand, an influx of affluent international shoppers, strong adoption of digital and omnichannel experiences, and the rapid expansion of emerging categories such as skincare and Asian beauty. With tourism rebounding and affluent visitors like Russians making up 16 per cent of luxury spend, how are tourist flows influencing purchasing patterns across categories — any specific categories to monitor? Tourism is playing a critical role in shaping luxury consumption in the UAE. With international visitors — particularly affluent travellers from markets like Russia, China, and India — making up a significant share of luxury spend, we're seeing strong demand across categories such as leather goods, watches, and jewellery. Dubai offers a strong concentration of top brands from these categories and remains a renowned destination for luxury shopping. The report notes a strong Q1 2025, helped by store openings and the Ramadan effect. How critical is physical retail — especially new mall developments — to sustaining growth in the region? Physical retail remains absolutely critical. Despite the rise of e-commerce, in-store experiences continue to drive discovery, brand engagement, and high-value purchases — especially in luxury, where sensory experience and personalised service are essential. In Q1 2025, fashion grew by over 11 per cent and beauty by over 23 per cent, with part of this growth driven by the opening of Solitaire Mall in February in Saudi Arabia. Seven new malls featuring luxury brands are scheduled to open across the UAE and Saudi Arabia by 2027, and these developments will definitely help boost the GCC luxury sector further. What opportunities do you see for newer-to-region luxury brands like Jacquemus and Zimmermann, and how are they tailoring their approach to the GCC market? We're seeing strong momentum from a new generation of luxury brands expanding in the region. The recent flagship openings of Jil Sander and Maison Margiela at Mall of the Emirates reflect growing demand for new and emerging brands in the GCC. This next phase will be driven by rising consumer expectations, generational shifts, and a stronger desire for emotional connection, storytelling, and curated experiences. Looking ahead, new retail developments will give brands more opportunities to elevate service and experience to meet the evolving expectations of the GCC consumer. With the market expected to reach $15 bn by 2027, what new or emerging categories (for example, skincare, wellness, athleisure, Asian beauty) do you expect to drive the next wave of growth? The GCC personal luxury market is poised for continued growth, projected to reach $15bn by 2027, driven by: Robust local spending along with continued inflow of tourists and wealthy expats New retail developments, particularly in Saudi Arabia and UAE (eight malls with luxury brands) New generation of luxury brands entering and expanding in the region (for example, Jil Sander, Zimmermann, Jacquemus) Development of new categories (for example, skincare, wellness, athleisure, Asian beauty) E-commerce acceleration, particularly pure players
Fashion Network
26-06-2025
- Business
- Fashion Network
Middle East remains bright spot for high-end fashion industry
With Middle East airspace reopening and a U.S.-brokered ceasefire between Israel and Iran appearing to hold, the luxury sector continues relying on the region's wealthy shoppers to help offset weakness in its main U.S. and Chinese markets — for now. The Middle East, helped by strong tourist flows and local wealth, has bucked a recent global slowdown in luxury sales that is expected to deepen this year, with some brands growing sales there at double-digit rates. Luxury sales in Gulf countries were up 6% to $12.8 billion of the nearly $400 billion market last year, outpacing a global drop of 2%, with strong appetite for high-end fashion, jewelry and beauty products, retail consultant Chalhoub Group said. However, that trade is heavily dependent on the region's burgeoning tourist market, with consulting firm Bain estimating that some 50–60% of the Middle East's luxury sales come from tourists. This month's outbreak of an air war between Israel and Iran emphasized the ongoing risks in a region where unrest was already simmering, with airlines canceling flights and rerouting planes following Israel's strikes against Iran on June 13 — measures that are now being unwound. "At this point, we have not adjusted our long-term growth forecast, as we continue to see considerable potential in the region," said Federica Lovato, senior partner at Bain. "However, short-term volatility has increased in the last few weeks and may continue, depending on how the situation develops." The region is an important hub for travel spending, favored by Russian oligarchs and wealthy Asians alike, and has increased in importance since Russia's invasion of Ukraine triggered sanctions and the rerouting of flights between Europe and Asia from more northerly routes to the Middle East. It also serves as a gateway for high-end brands to reach wealthy shoppers from India, where high tariffs have kept companies like LVMH from expanding store networks. Max Heinemann, co-CEO of travel retail group Gebr. Heinemann, which recently expanded into Saudi Arabia and operates airport fashion retail stores carrying luxury brands in Jeddah, said the region's travel market has shown long-term resilience despite unrest. He remains optimistic. "Dips may occur, but long-term growth is expected," he said. At Prada, first-quarter sales in the region rose 26% year-on-year, while Hermès ' sales there were up 14%. High-end fashion and jewelry brands have been opening new stores and hosting splashy events. Milan-based menswear label Zegna this month took its spring collection to the opera house in Dubai, the region's leading luxury hub, for a catwalk show set in an elaborate space evoking an Italian villa. Elie Saab celebrated its 45th anniversary with a show in Riyadh last November, featuring a performance by Celine Dion. Dior, Saint Laurent and Valentino opened stores in Bahrain last year, while this year, Louis Vuitton brought guests to the Dubai desert for a dawn meal, and Chanel hosted a dinner in Abu Dhabi tied to a high jewelry launch. But maintaining visitor numbers to Middle Eastern destinations will be vital to bringing shoppers through the doors. Luxury travel agency Global Travel Moments said that for now, its long-term travel volumes to the Middle East have been unaffected by the latest unrest. However, given recent events, there is currently "certainly more caution" before finalizing trips to the broader Middle East, it said.
Zawya
26-06-2025
- Business
- Zawya
Luxury sector pins hopes on Middle East despite clouds from conflict
With Middle East airspace reopening and the U.S.-brokered ceasefire between Israel and Iran appearing to hold, the luxury sector is still counting on the region's wealthy shoppers to help offset weakness in its main U.S. and Chinese markets - for now. The Middle East, helped by strong tourist flows and local wealth, has bucked a recent global slowdown in luxury sales that is expected to deepen this year, with some brands growing sales there at double-digit rates. Luxury sales in Gulf countries were up 6% to $12.8 billion of the nearly $400 billion market last year, outpacing a global drop of 2%, with strong appetite for high-end fashion, jewellery and beauty products, retail consultant Chalhoub Group said. However, that trade is heavily dependent on the region's burgeoning tourist trade, with consulting firm Bain estimating that some 50-60% of the Middle East's luxury sales come from tourists. This month's outbreak of an air war between Israel and Iran emphasised the ongoing risks in a region in which unrest was already simmering, with airlines cancelling flights and rerouting planes following Israel's strikes against Iran on June 13 - measures that are now being unwound. "At this point, we have not adjusted our long-term growth forecast, as we continue to see considerable potential in the region," said Federica Lovato, senior partner at Bain. "However, short-term volatility has increased in the last few weeks and may continue, depending on how the situation develops." The region is an important hub for travel spending, favoured by Russian oligarchs but also wealthy Asians, and has increased in importance since Russia's invasion of Ukraine triggered sanctions and the rerouting of flights between Europe and Asia from more northerly routes to the Middle East. It also serves as a gateway for high-end brands to reach wealthy shoppers from India, where high tariffs have kept companies like LVMH from expanding store networks. Max Heinemann, co-CEO of travel retail group Gebr Heinemann, which recently expanded into Saudi Arabia and operates airport fashion retail stores carrying luxury brands in Jeddah, said the region's travel market has shown long-term resilience despite unrest. He remains optimistic. "Dips may be witnessed, but growth will remain," he said. At Prada, first-quarter sales in the region rose 26% year-on-year, while Hermes' sales there were up 14%. High-end fashion and jewellery brands have been opening new stores and hosting splashy events. Milan-based menswear label Zegna this month took its spring collection to the opera house in Dubai, the region's leading luxury hub, for a catwalk show in an elaborate set evoking an Italian villa. Elie Saab held its 45th anniversary show in Riyadh last November, featuring a performance from Celine Dion. Dior, Saint Laurent and Valentino last year opened stores in Bahrain, while this year Louis Vuitton brought guests to the Dubai desert for a dawn meal and Chanel hosted a dinner in Abu Dhabi linked to a high jewellery launch. But maintaining visitor numbers to Middle Eastern destinations will be vital to bringing shoppers through the doors. Luxury travel agency Global Travel Moments says that for now, its long-term travel volumes to the Middle East have been unaffected by the latest unrest. However, given recent events, there is currently "certainly more caution" before finalizing trips to the broader Middle East, it said. ($1 = 0.8546 euros) (Reporting by Mimosa Spencer and Elisa Anzolin; Additional reporting by Luke Tyson in Dubai; Editing by Jan Harvey)
