Luxury retail in the UAE had shown signs of a rebound over summer after the pandemic struck, but has flattened since the start of October.
That's according to the CEO of Chalhoub Group, Patrick Chalhoub, who was speaking at the 'Back to Business' webinar hosted by Dubai Eye.
He's expecting sales to stay soft till the end of the year.
But Chalhoub says the increase in online shopping has been dramatic.
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HSBC on Monday expressed confidence in the Gulf Cooperation Council (GCC) members' economic prospects as the region and the wider Middle East brace for the economic shock from the U.S.-Israeli conflict with Iran.
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