Iran’s emerging luxury market

Luxury goods companies know a lucrative new market when they see one, and several have lined up to serve middle class and wealthier Iranians, market development sources tell GSN. Markets for female accessories and cosmetics and fashions are seen to be particularly attractive, for the luxury crowd – whose conspicuous consumption features on sites like Rich Kids of Tehran – and the millions more who share such counter-revolutionary tests. Among those that have plotted entry is global luxury industry leader LVMH, whose Sephora retail cosmetics subsidiary is rolling out shops; other LVMH products will follow.