A matter of style
Guess?, Tiffany Fifth Avenue, Versace and more are all designer names now available from their own outlets on the Egyptian market. Dena Rashed puts on her best and considers the dilemma of the "it" crowd
The Rolex watch, Armani suit and Christian Dior earrings are all but part of an overall look based mainly on commodities acquired abroad. Not anymore. For the privileged Cairene elite, the past few years have seen an expansion in luxury accessories.
It is an expansion crowned last week with the inauguration of a Mont Blanc boutique for the first time in Egypt. According to Sonke Thienport, the sales manager of SBV in the Middle East, Egypt has been a target market for the brand for several years. "However, the high duties and the custom regulations delayed the opening of our branch in Egypt," said Thienport. "We were also searching for a mall that fits with the international standards we require for our commodities. Now that we found it in Egypt we decided it was time to open."
Mont Blanc is only one of the many famous brands that have lately opened branches in Egypt. But the question is, are there enough customers for more brand boutiques, especially given the diminished purchasing power of the Egyptian pound and the country's economic woes? Thienport considers Egypt to be a strong market for name brands, and one closely following the ephemeral trends of the global fashion culture.
A good market, however, does not function without good customers. "We have had steady customers for years, even when we open a new branch we get the same people. But then not a lot of people are buying a Rolex watch every week," said Abdel- Sabour, the salesperson of Thomas, an upscale boutique in First Mall. "Our sales rocket on Mother's Day, Valentine's Day, and a lot of people will come here to find a birthday or anniversaries gift," he added.
But not all expensive shopping addicts prefer to shop in Egypt. "I don't like buying brand names here," said Islam Soliman, a 24-year-old AUC student. Soliman clearly has expensive taste in clothes, but finds no pleasure in shopping in Egypt. "Usually the clothes and watches are somewhat old-fashioned -- not the latest styles as are available abroad. Also, prices here are more expensive due to the customs," he said. "Buying a Boss suit would cost me around LE5,000 in Egypt and it would not be the latest fashion so I would still have to buy more suits from abroad," Soliman explained.
Furthermore, the variety available abroad is more enticing. "You could have a mall for Rolex watches abroad. But here, how many shops can afford to buy a LE100,000 Rolex that may or may not be sold? Which is why shops here will only have two or three watches from which to choose, limiting the buyer's choice," he complained.
At one of Mohandessin's shops specialising in designer watches, Boulos Mohsen, a salesperson, said that stocking is not always the shops' prerogative. "Sometimes introducing the latest designs is decided by the supplying company and what it decides to introduce to the market," said Mohsen. He added that some companies prefer to not take the risk of introducing expensive merchandise that could never find a buyer. "So they choose to introduce watches that range from LE1,000 to LE3,000 that could be easily sold."
Abdel-Sabour agrees that certain boutiques cannot afford to provide the latest designs, but added that often even new fashions simply do not satisfy Egyptian clientele. "For example, there are pens especially designed to suit the taste of Gulf Arabs. And it takes companies quite a while to define what styles best suit a new market," he explained.
But for Robert Sossa, general manager of LVMH Watch and Jewelry in the Middle East, the gap in taste and preference is diminishing. "With globalisation people are more exposed to the different brands of the world, and thus their taste is becoming very similar," he said.
Egypt is one of the main countries visited by Sossa two to three times a year to check on the market. "It is a big market that is becoming more sophisticated, creating a huge responsibility for producers," said Sossa.
However, for 20-year-old shopping aficionado Omar Shaddadi, it does not matter what is offered, he simply will not shop from Egypt. He acquiesces, however, that "shopping abroad is a luxury for many people, so some just have to make do with what is available here. But thinking about it from a psychological point of view, even if the same stuff is available in Egypt, wouldn't it feel better buying it from abroad? That way you would also make sure no one is wearing the same style as you," said Shaddadi.
But for Amal, coolly gazing through the shop window of Versace, brand boutiques in Egypt will always have their customers since "the local market does not produce enough elegant designs that are refined." She sighs, "So high-income shoppers will always find themselves heading towards the new designer boutiques."
