Mont Blanc, luxury brand, high-end fashion Image: Supplied
Luxury in Africa is more than a market - it’s a movement. With rising incomes, stronger economies, and falling interest rates boosting purchasing power, 2025 is set to redefine how luxury is experienced and consumed across the continent.
This is according to Michael Zahariev, co-founder of Luxity, who explains that shopping patterns revealed in the company’s seventh annual State of the Luxury Market in Africa report point to evolving consumer preferences that will likely dominate in the coming year.
Quiet Luxury: So long logomania – Gone are the days when bold logos like Gucci’s interlocking Gs and Fendi’s double F motif were the ultimate status symbols.
Now, the emphasis is on high-quality, minimalist pieces that have timeless appeal. This has been evidenced brands like Hermès and Chanel claiming the top spots on the report.
Luxury Fatigue: The decline of overconsumption – Once defined by exclusivity, luxury has become increasingly widespread, diluting its allure. Consumers are no longer content with simply owning a handbag that everyone else has.
Instead, they are seeking differentiation and a deeper sense of connection to the luxury items they purchase. The era of unabashed luxury consumption is giving way to a more discerning and intentional approach, signalling a pivotal moment for the continent’s luxury landscape.
Authenticity: Consumers want the real deal - Luxury brands that stay true to their core values will gain further traction in 2025, especially with African consumers valuing brand authenticity.
Prada, for example, attributes its 18% year-on-year growth to its strong brand identity, with Group Chief Executive Officer Andrea Guerra saying, “Our brands remain desirable and relevant, thanks to the strength and consistency of their identity, creativity and sharp positioning.”
This is in contrast to luxury giants like LVMH and Kering, whose third-quarter revenues dipped by 2% and 15%, respectively. This preference for brands that uphold their core principles, particularly in the face of mass-market trends, is expected to grow.
Exclusivity: The allure of the unattainable – Exclusivity is the ultimate luxury, and in 2025, African consumers will increasingly seek out global brands that are not widely available on the continent.
The absence of flagship stores for certain high-end labels has driven up demand for their pieces, with the resale value of Van Cleef & Arpels items serving as a prime example.
African Luxury: Our time to shine – All these trends combined set the stage for the rise of Africa’s homegrown luxury market. This is evident in South African jewellery brand Browns achieving a resale value of 66%, closely trailing Cartier’s 67.3%.
In 2025, we expect local luxury brands to be in the spotlight, with more African designers coming to the forefront to provide consumers with distinctive, high-quality pieces which resonate to our local desire.
“As we look ahead, Africa’s luxury market is not merely following international trends but beginning to forge its own path. Could 2025 be the year a local luxury brand claims its place among the global giants?” concludes Zahariev.
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