• The Memorandum of Understanding will nurture young Saudi talent and incubate entrepreneurs in the fashion sector
• Developing the fashion sector aligns with the City’s broader goals to foster innovation and creativity
Riyadh, Saudi Arabia-: The Prince Mohammed Bin Salman Nonprofit City and the Saudi Fashion Commission have signed a Memorandum of Understanding (MoU) to empower the Kingdom’s burgeoning fashion sector.
In the presence of His Excellency Hamed bin Mohammed Fayez, Vice Minister of Culture and Vice Chairman of the Board of the Fashion Commission, the agreement was signed at the Ministry of Culture headquarters in Diriyah by David Henry, CEO of the City, and Burak Çakmak, CEO of the Saudi Fashion Commission.
The partnership will enable enhanced cooperation between both entities to develop education and training programs for young Saudi designers, explore opportunities for incubation of entrepreneurs and attract talent and investors to the Kingdom’s fashion industry. The partnership also lays the foundation for cooperation in hosting various fashion-related events and festivals at the City.
The Fashion Commission has also signed a lease at the City Hub to build a world-class product development studio for product sampling and prototyping. The studio will be equipped with state-of-the-art machinery, technology and expertise to enable the growth of the fashion design ecosystem.
Burak Çakmak, CEO of the Saudi Fashion Commission, highlighted the importance of cooperation and the significant role of the fashion sector in the Kingdom’s cultural scene: “Fashion is a true reflection of Saudi heritage and identity. The signing of the memorandum of understanding reflects the commitment of the Fashion Commission to advance the growth of the Saudi fashion sector and enhance its contribution to the local economy in line with Vision 2030.”
David Henry, CEO of Prince Mohammed Bin Salman Nonprofit City, said: “This partnership with the Fashion Commission is an important step towards enhancing the Kingdom’s fashion industry and aligns with the City’s vision to cultivate innovation and creativity in Saudi youth. We look forward to working together with the Fashion Commission to create opportunities that inspire the next generation of talent and cement the Kingdom’s position as a global leader in the industry while showcasing Saudi culture.”
The City will offer unparalleled retail experiences by providing a platform for local fashion brands to pioneer innovative experiences that are creative, educational, engaging and transformational. Prince Mohammed Bin Salman Nonprofit City will be the first of its kind in the world and is located in Irqah neighborhood, adjacent to Wadi Hanifa, on an area spreading over 3.4 square kilometers.
For more information about leasing and partnership opportunities, please contact the team at City@misk.org.sa