Selling Luxury in Iran

The New York Times

By ELIZABETH PATON

Bypassed for decades by the luxury industry, Iran and its explosive market growth potential have recaptured the attention of global luxury heavyweights in the last 12 months. After more than 30 years of isolation and austerity, the country re-entered the global economy when economic sanctions were lifted in January, something Morgan Stanley described as the biggest thing for the global economy since the fall of the Berlin Wall. Now, with an educated, surging middle-income population of almost 80 million — many of whom possess a budding appetite for high-end consumer goods and mobile phones — Western brands are sizing up the opportunities, and risks, of setting up shop in Iran.

Read the full article