Scopelliti 1887 projects their sales to grow by 30% every year
After gaining a comfortable foothold in the luxury homes furnishing market in Italy label Scopelliti 1887 has projected that their sales to grow by 30 percent every year.
The luxury goods market in Middle East & Africa reached US$11.5 billion in 2017 and is forecast to grow at a CAGR of 5.6% over the next five years to reach US$15.1 billion by 2022. The UAE remained the largest luxury market in the region with a share of 41.3% in 2017 and is expected to retain its top position through 2022 as well. Saudi Arabia, which is forecast to grow at a CAGR of 7.0% between 2017 and 2022, will be the fastest-growing luxury market in the region. The UAE is the leading market for luxury goods sales and Dubai contributes a major share to the UAE luxury market, driven by increased international tourists and its status as business hub.
Scopelliti 1887 which embodies the worlds finest collection of luxury tableware and home dcor for more than 130 years has set their eyes on Middle East expansion in the year 2021 which will also mark when Expo will be organized in Dubai.
Speaking about his Middle East expansion Alessandro Isola Scopelliti, CEO, Scopelliti 1887 Italy enthused, We have existed since 1887 and now we want to go global. This year provides ripe opportunity as Dubai is holding Expo and we are all set to explore the market which is synonymous with luxury and opulence.
Going on further he adds, Over two decades ago, when we decided to start selling online, we werent sure, but we believed in the concept and made sure it was a success. My predecessors taught me that only passion, seriousness and a lot of hard work can guarantee success. We are exporting to 35 countries and plan to expand to other counties very soon. Our focus will be the countries in the Middle East especially The UAE we have seen that the people enjoy Hermes tableware and Christofle flatware, also Baccarat crystal vases and stemware in this region a lot and we want to export it to this region.
The label which is headquartered in Italy is the authorized retailer of the most prestigious luxury brands including Herms, Baccarat, Versace, Christofle, Herend, Saint Louis, Pininfarina, Lalique, Buccellati, Venini, Foscarini and others.
