Coco Chanel said, “Fashion is not simply a matter of clothes. Fashion is in the air, born upon the wind”. I love that romantic point of view, but today, fashion is so much more complicated.

More than just an extravaganza of creativity and a parade of beautiful models, fashion has become a serious business. With fashion events like Fashion Forward and a full service commercial hub like the Dubai Design District to help boost art, design and fashion in the region, Dubai’s fashion industry is poised for dramatic growth. Statistics show that retail spending is expected to hit Dh150 billion by 2015.

Having studied fashion and owned my label, Pepper By Uma, almost 10 years ago, I can say that the industry has come a long way indeed. With the rise of fashion shows and events, there is definitely a lot of media exposure and purchases by retailers. But haute couture is of very little relevance to the majority of consumers; the price and practicality limit the demand to the very rich or compulsive fashionistas. So do all designers actually rake in the big bucks as we imagine? Or are we overly glamorising the glamour industry?

I got talking to a few friends in the industry. Raza Beig, CEO of Splash and Iconic, said that fashion events like Fashion Forward do help not only the designers, but also buyers, media, stylists, bloggers. The key, he says, lies in showcasing saleable merchandise with an unforgettable experience — Victoria’s Secret, for example, does this very well.

Meher Mirchandani, CEO of Meher & Riddhima, says marketing is an integral part of fashion, just like any other business. In the business for over a decade, Meher says that it takes up to five years for a designer to establish their brand, break even and earn revenue. Meher and Riddhima had a clear strategy and niche in mind. Meher quotes CEO Stefano Sassi of Valentino. “Fashion is not a mass-market product. It’s about creating a brand, creating a dream, creating a perception.”

Multi-talented filmaker and entrepreneur, Soniya Kirpalani, feels that the presence of so many international labels threatens local talent. “It’s never a price point that defines sales alone. It’s the brand visibility, the quality of a product, the design and the solution it offers to its consumers that define it,” she tells me. Local talent needs more support so that we can fill in the missing blocks to build one of most viable design industries in the world.

Dubai-based Michael Cinco feels that if the designer is focused and knows his target market, he has huge growth potential. His own career graph proves this, as he has made his mark internationally with celebrities such as Tyra Banks, Naomi Campbell, Paris Hilton, Britney Spears and many more wearing his creations. Cinco believes that the world is looking to Dubai as a potential fashion hub, just as Paris and Milan have grown into.

“European fashion has centuries of history and culture behind it, whereas we are only half a century old”, says designer Tahir Sultan. “But don’t forget that even Chanel started off as a humble hat maker. Nothing great starts great.”