Maryanne Maina, 8:04 am AFKI Original
Luxury products consumption in Africa is on the rise and alongside it is the business of luxury services, to be more precise, concierge services. These companies play a role to their clients as opinion shapers, experienced tastemakers, and important links between the luxury brands and the clients who purchase from these brands. Zakary Chanou, a Benin-born French-based entrepreneur, formed UUU, a concierge series company
Maryanne Maina, 2:28 am
The logistics of exporting luxury products out of Africa brings a high bill to the business thus affecting internet sales for consumers who would like to purchase the goods online. In addition, it costs 10 – 15 times more to produce ceramic teapots in Africa in comparison to the costs of doing in it in Asia. Production of high quality goods is critical in this industry but the costs are high in Africa. This is a setback for small and medium sized luxury companies in the continent who are competing with international companies.
Maryanne Maina, 7:47 am
It is estimated that the global luxury industry was worth $279.5 billion in 2015, with Africa’s luxury market accounting for about $4 billion of this, according to Euromonitor. Over the last decade, there has been an increase in African billionaires and millionaires who have driven luxury goods and services consumption on the continent with their demand for private jets, timepieces and other items. This has creates the need for more luxury goods and services in the continent
Maryanne Maina, 6:53 am
The most expensive African painting sold at auction was the ‘Arab Priest’ by the South African artist Irma Stern, but that was purchased by a Museum in the Middle East for £3.1 million in March 2011. The second highest price was the ‘Bahora Girl’, also by Irma Stern, which was sold to a private South African collector for £2.4 million in October 2010. South Africa has commanded the highest prices for African fine art for the past decade.
Maryanne Maina, 7:40 am
Her luxury line is inspired by women of color, who she feels deserves to be celebrated. Meet Aprelle Duany, an African-American living in Nairobi, Kenya who has created her luxury line known as APRELLEDUANY. Her bags have African Women inspired names which include: Maathai, Maya, Miriam and Hattie celebrating four women of colour: Wangari Maathai, Miriam Makeba, Maya Angelou and Hattie McDaniel.