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Luxury-Shopping Revolution in Iran
Dividends of the Nuclear Deal Are Starting to Appear in Iran
 

The Roberto Cavalli boutique in Tehran


The popularity of the label’s glitzy, colorful aesthetic in the Middle East, he added, especially with wealthy Iranians already shopping regularly in nearby Istanbul and Dubai, underscored the importance of capitalizing promptly on demand. A 90 percent stake in Roberto Cavalli was bought last April by the Italian private equity outfit Clessidra for an estimated $430 million, giving the brand a considerable injection of capital. “We knew we had to move fast to grab a leadership position in the minds of fledgling Iranian luxury consumers,” Mr. Semerari said, “not just because it is the second richest country in the region after Saudi Arabia, but also because there are so many rivals coming in fast behind us.”

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