A luxury-shopping revolution is taking shape in Iran. The roadside billboards and luxury shopping centres that have come across Tehran makes it clear that Iranian consumers on average have more money to spend.
Middle-class Iranians have developed a taste for high-end designer goods and for Tehran’s young rich, shopping has become the new hobby. The Big brands like Benetton, Rolex and Louis Vuitton are waking up to the potential of a barely tapped market which could offer big dividends in the future.
In big cities of Iran, traditional bazaars are facing big competition from American-style shopping malls where big name Western brands are on conspicuous display.