Stefania Lazzaroni, Maria Lucia Martorelli, H.E. Mohammed Al Shehhi, Matteo Lunelli, H.H. Sheik Awad and Giovanni Bozzetti, Chairman of EFG Consulting)
The new Altagamma Club Dubai is the Foundation's fourth internationalization initiative, extending the network to the UAE following the Netherlands (Amsterdam, 2018), China (Shanghai, 2019) and the U.S. (New York, 2022). The aim of the Dubai chapter is to promote Italy's excellences and lifestyle in the UAE, an ever-growing market for the luxury industry.
The first meeting of the Altagamma Club Dubai was held on Friday, March 3rd at the iconic Burj Al Arab Jumeirah Hotel.
The Foundation's networking project is part of the framework agreement between the Ministry of Foreign Affairs and International Cooperation (MAECI) and Altagamma to promote Italian-made excellence all over the world. At the Club in Dubai, country managers and local representatives of Altagamma companies will have the opportunity to discuss and develop storytelling activities and business initiatives together.
Matteo Lunelli, Chairman of Altagamma, commented, "This is an important step in Altagamma's internationalization journey. The UAE has been a significant market for the luxury industry for decades, and in recent years its performance has benefited from the marked increase in tourism in the region. The luxury market in the Gulf Countries (GCC) exceeded €10 billion in 2022. Dubai, in particular, is one of the cities with the most international high-end consumers, who show a very strong appreciation for superlative quality Italian products. The Altagamma Club Dubai will be an important platform for networking and sharing best practices among our Members and fostering business opportunities and connections, not only among the Foundation's brands, but with local partners and institutions too, also thanks to the fundamental contribution of MAECI and ITA - the Italian Trade Agency."
The UAE's personal luxury goods market has doubled in value since 2020, the year of the pandemic: in 2022 it reached about €5.3 billion, 47% of which was fashion purchases, 25% watches, 15% jewelry and 13% beauty. The Emirates market represents around half that of the entire Gulf area.
During the launch event, which was opened by Altagamma chairman Matteo Lunelli, the Deputy Trade Commissioner of ITA – Italian Trade Agency Dubai, Maria Lucia Martorelli, testified to the institutional support for the Altagamma Club project. Majedi Al Mesmari, Senior Country Officer UAE at J.P. Morgan Chase Bank, then outlined the macroeconomic scenario in the United Arab Emirates while Stefania Lazzaroni, General Manager of Altagamma, gave an overview of the global luxury market and a round-up of Altagamma's current projects.
Simone Camposeranio, Director of Technogym’s Consumer Division in the Emirates, and Marnix Quint, General Manager for Brunello Cucinelli Middle East, offered insights into the perspective of brands in the local market.
In the coming weeks we will be appointing the coordinator of the Altagamma Club Dubai, who will work closely with Lelio Gavazza, Executive Vice President Sales and Retail for Bulgari and General Coordinator of the Altagamma Clubs, and the Italian diplomatic/consular network in the UAE.
