In an interview with Al Arabiya, the CEO of Chalhoub Group, Patrick Chalhoub, confirmed that the group’s sales of luxury goods rose 20% in the first quarter of the year, explaining that the largest increase came from Dubai, driven by the large number of EXPO visitors.
Shalhoub expects sales to decline luxury goods In the summer, amid the strong demand for travel after the previous two seasons.
He pointed out that the largest increase in sales in Dubai was due to visitors to the Expo.
Shalhoub pointed to the revival of shopping at the beginning of the year with a decrease in Gulf visits abroad.
“Sales in the month of Ramadan were good and from Expo, as the number of visitors increased and the numbers returned to what they were in 2019,” he said.
He explained that there are fears of sales performance during the next 4 months, with the revival of travel, which enhances purchases abroad, and the increase in sales in the next 4 months will not be the same as it was in the first quarter of 2022.