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Reviving Luxury Demand Evident at Lebanon’s Jewels of Beirut Expo 2023 July 15, 2023 (0 comments)


Beirut, Lebanon--The Jewels of Beirut Expo 2023 — with over 35 Lebanese fashion and jewelry designers — indicates a revival in luxury demand, bolstering confidence in the country's designer fashion sales prospects for the summer season. 

[Image via Pexels Commons]

Victor Azar, manager of the prominent Azar jewelry store in Beirut, noted significant demand for his products from international tourists and Lebanese expatriates since the exposition's commencement. "We saw good numbers of tourists from Gulf countries and Lebanese expats from Europe and the United States buying with budgets of 1,000 U.S. dollars and above," said Azar, as per the report by Xinhua.

Azar expressed optimism at Lebanon's "great buzz" this summer, driven by exhibitions and numerous international arrivals. He voiced high expectations for tourist and expatriate influx this season.

Rolando Bonja, a local jewelry designer and co-owner of Christian Bonja, told Xinhua that the exhibition's turnout exceeded expectations. He reported substantial demand primarily from Syrians, Kuwaitis, and Qataris, with average spending per piece per person ranging from 1,000 to 7,000 U.S. dollars.

Bonja, who traveled from Dubai for the exhibition, was surprised by the demand for their products. "People are tired from the several crises that hit Lebanon over the past years and want to feel alive again," he said, per the report.

The report noted that since October 2019, Lebanon has been grappling with a severe financial and economic crisis, culminating in the loss of billions of dollars in bank deposits and leading over 80% of the population into poverty. The COVID-19 outbreak and the Beirut port explosions in August 2020 exacerbated this crisis.

Learn more in the Xinhua report.

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