Despite many new brands entering the Beirut market for the first time this year, a large number of existing shops have chosen to use the revival of downtown Beirut and the inauguration of the Souks to open up new stores and increase their brand exposure — a potentially pricey risk in such a small market. “The idea of mono-brand outlets is relatively new here in Beirut and I think it reflects an increased interest by big-name brands in Lebanon and in the Middle East in general,” Stefano Macaluso, vice president of luxury watchmakers Girard-Perregaux, told Executive in July. “At a time when luxury watchmakers were tallying losses in Europe and the United States, sales soared in this region.” Top-end retail executives seem to agree that having multiple points of sale even in a small country like Lebanon gives customers the most complete experience with the brand, making a more
