Deflex 2024 exhibition kicks off in Dubai on December 10

With retail spending growing at a strong compound annual growth rate of more than 7% per annum, driven by a growing number of affluent and young consumers in the Middle East and Africa region, the leather and footwear market is expected to achieve significant growth approaching US$28 billion over the next five years.
In a statement issued by Verifire, organizers of Deflex 2024, the largest international exhibition for shoes, leather products and accessories in the region, experts explained that increasing purchasing power and disposable income, along with increasing demand for luxury products, contribute to this growth.
Rajendra Kumar Jalan, Chairman, Leather Exports Council of India, a government body under the Ministry of Commerce, said: “The biggest catalyst for the growth of the leather and footwear industry in the region is the growth of retail trade in the non-oil sector, with the UAE and Saudi Arabia leading the growth trends. In addition to “The region’s young demographic and increased e-commerce thanks to a strong digital infrastructure are stimulating this growth.”
India, the world’s second largest exporter of leather garments and the fourth largest exporter of leather goods with a value of over $5 billion annually, is participating in the exhibition under the supervision of CLE with more than 50 global producers.
This year’s Deflex 2024 will be even bigger than the previous edition, featuring more than 250 brands showcasing more than 10,000 world-class product lines, as well as 300 hosted buyers from around the world.
The show is expected to attract more than 4,000 trade visitors, most of whom will be serious buyers from the region and around the world. In addition to India, the participating countries include Italy, Portugal, Egypt, Spain, Thailand, Pakistan, the Emirates, Jordan, Syria, Turkey, China, and others.
According to industry research group Fortune Business Insights, the region’s retail market size currently stands at US$808.51 billion and is expected to reach US$1,401.32 billion by 2032, at a CAGR of 7.12%.
“The expansion of the retail market presents significant opportunities for growth in the leather and footwear market, and Deflex Expo provides a unique platform for participants and stakeholders to enhance their engagement with the market through new partnerships and investments,” said Gene Joshua, Managing Director of Verifire, stressing that the young demographic has consciously differentiated the regional markets. Increasingly fashionable and increasingly preferred to purchase online.