Against a background of flatlining national economic growth, Lebanon’s retailers have suffered a double blow this year, with many big-ticket shoppers from Europe and the Middle East avoiding Beirut for their annual shopping sprees, put off by the regional unrest. But these challenges have not checked the rapid expansion of the luxury retail sector, a vital element of Lebanon’s identity as a shopping destination. Instead, developing nuances in consumer behavior suggest increasing sophistication among buyers, subtly altering the strategies of luxury retailers. “We can still rely on investor confidence in the Lebanese economy,” says Ziad Annan of AS Chronora, the local agent for Rolex, Girard Perragaux, Jean Richard and Tudor, among others. “Malls are still being built, and the national retail network is still expanding.” Izzat Traboulsi, managing director at the Fashion Trading Company (FTC), which manages Hugo Boss Middle East, suggests that the national psyche plays a part in
