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In Dubai, the world’s luxury brands face a wartime crisis
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Half of all luxury goods sales in the Middle East come from the United Arab Emirates, and most of those transactions occur in Dubai, according to estimates from Morgan Stanley.
PHOTO: REUTERS
Kim Bhasin and Omnia Al Desoukie
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DUBAI – Situated beneath the tallest building in the world, the Dubai Mall is usually a busy playground where the wealthy can purchase Rolex watches, Hermes handbags and Ferragamo shoes. They can even spend US$80,000 (S$102,000) on a Faberge egg.
