After years of recollecting data, it has been proven that Africa is one of the world’s fastest growing economies, and it’s a fact that mid and high class populations are looking for more options on where to shop for clothing, accessories, and luxury items. According to the data, Nigerians are currently close to spending 250$ per year on luxury items and according to Knight Frank, the number of millionaires in Africa will rise 53% in the next 7 years. This is the highest growth rate currently seen by statistics. What does this mean? Fashion entrepreneurs have a huge opportunity over the next few years.

 Another benefit locals are living in the fashion business is the fact that’s Africa has been known for having a strong tradition of craftsmanship and textile heritage. This “African vibe” that is transmitted only by those who know the culture is preferred by consumers. Also, not only are consumers looking to buy local but there has been a lack of foreign penetration in the continent. This is due to a long list of cons for foreigners, but among them is a lack of commercial property, meaning that high end brand stores have trouble finding stores in good locations. Also, transportation and infrastructure in many African countries is limited compared to other more developed countries, so these barriers prevent brands from wanting to open business in Africa.

All these previous facts mean that local brands have every chance of becoming successful. Many already existing ones are supplying specific local needs and values, giving the people garments that reflect their culture. An example is a store called Maxhosa, a moder Xhosa- inspired collection that is created for a very specific market that follows a tradition in which teenage boys have to wear this kind of clothing for six months after starting their manhood. Because of the unique traditions many cultures in Africa have, it has become easier for local brands to understand these needs and give the consumers exactly what they are looking for.

Although competition is not necessarily a bad thing, it has become hard for international brands to take over Africa, and this puts local retailers in a very strong position, with less threat from bigger brands that have yet to understand and conquer Africa’s market. In any case, those few brands that have already entered, or are about to in a near future – can be expected to start in South Africa, which has a much larger European influence, or in North Africa, where the middle class is looking for less exclusive and economic trends.