Fashion school looks to Saudi Arabia
Design school Istituto Marangoni has reached an agreement with the authorities in Saudi Arabia to open a new fashion school there.
Istituto Marangoni has its headquarters in Milan, but it also runs schools in Paris, London, Miami, Dubai, Shenzhen, Shanghai and Mumbai. Its newest school will be in Riyadh, opening in 2025, it said.
Its aim will be to foster local creative talent and “fuel innovation in this dynamic market”.
In 2023, Boston Consulting Group said Saudi Arabia had become one of the 12 biggest markets for luxury brands. Its calculation is that, in 2022, the personal luxury market in Saudi Arabia was worth €3 billion. However, it also calculates that Saudi Arabian consumers spent approximately double this amount on high-value clothing and other goods if you include overseas purchases.
It has predicted that these values will double between now and 2023, making Saudi Arabia as big a market as Germany.
