Ermenegildo Zegna News

The top 10 cities for Africa's millionaires

The top 10 cities for Africa's millionaires (Photos, Videos, & Infographic)

Wealthy Nigerians used to travel abroad to get their fix of luxury goods. However these days, they can take a stroll around Victoria Island, an exclusive neighborhood in Lagos where brands like Porsche, Hugo Boss, and Ermenegildo Zegna line the streets.

The Mercedes Maybach is one of the auto brands popular amongst Nigeria's top one percent

In Lagos, Nigeria, the 1% takes stock

Guests sashayed through the tent doors into a scene of surreal opulence. At the far end of the tent, engulfed by servants, courtiers, national politicians and guards with wires in their ears, the celebrant perched beside his wife on a throne covered with white faux fur, his every move broadcast on flat-screens arrayed around the tent walls.

Porsche Panamera

Nigeria: The next big frontier for luxury

The ‘Africa Rising’ narrative, driven primarily by the region’s high growth rates, has captured a great deal of attention from global businesses. High growth rates in Africa’s largest economy, Nigeria, have been fueling growth in the country’s luxury market.

Nadir Tati

Nadir Tati: The Angolan Designer That Sells $10,000 Dresses

It’s the African cash cow that produces oil, diamonds and more recently, fashion.

Twins Kessie and Eku Edewor

The Nigerians have arrived ... and London is paying attention

Richard Vedelago is 29 years old and worth more millions than he’s prepared to tell. ‘Money talks, but wealth whispers,’ he says with a smile, sitting back in the bar at Claridge’s – his idea – and lazily sipping an elderflower juice.

Hugo Boss Store

Chain reactions: savvy supply is key to success in the African luxury market

Luxury retailers are eyeing the African continent as one of the next frontier markets. “Luxury in Africa is a hot topic,” says Oliver Merkel, a partner at Bain & Company, a management consultancy.

William Lauder, CEO, Estee Lauder Companies

Luxury heavyweights eye Africa's newly affluent

Sub-Saharan Africa was dismissed for decades by the luxury industry, and has attracted the attention of international heavyweights only in the past two years.