Luxury News

AccorHotels headquarters in Issy-les-Moulineaux near Paris, France

AccorHotels signs deals to open three hotels in Ethiopia

Europe’s largest hotel group AccorHotels, will open three hotels in Ethiopia by 2021, becoming the latest international chain to tap into the growing business and tourism sectors in the country.

Buffalo Mall, Naivasha, Kenya

East Africa's second-tier cities hold untapped potential

Retail in Kenya is dominated by informal sellers, but recent years have seen a boom in modern trade, with home-grown supermarket chains expanding their footprint and international brands (such as Carrefour and Massmart’s Game banner) entering the market.

Runway from a recent Lagos Fashion & Design Week event. Credit: lagosfashionanddesignweek.com

Nigerian Fashion Getting Ready for Growing Demand (Video)

The Nigerian fashion industry has a problem that might not look like one: it is struggling to meet the demand.

Africa’s richest man, Aliko Dangote (Left), has a net worth of about US$18 billion, according to Forbes. Tom Saater/Bloomberg

Ranks of African millionaires swell

The sinking tide of commodity prices has lowered incomes for the rich and poor, but for a growing class of African millionaires, the effect may be less painful than for others.

Wizkid

Meet Wizkid: Nigeria's Best-Dressed Pop Star

Wizkid is pretty much the biggest thing in Nigerian pop, which itself seems to advance on the global music stage almost as quickly as the country’s economy, one of the fastest growing in the world.

Davido

How Davido Became African Pop Music's Fortunate Son

Once, while on a Greyhound layover in Birmingham, Alabama, David Adedeji Adeleke, the Nigerian pop star now better known as Davido, spotted a familiar face on the CD rack of a bus station rest stop.

A Gulfstream G650 jet. The route from Lagos to London is the eighth-fastest growing private-jet route in the world.

Newly Rich Africans Are Young, Hip Millennials Willing to Spend

The profile of a rich African is shifting from older white-haired males to younger, hip millennials who have found new ways to make and keep money in a changing global scene.

The January marriage of radio presenter Tolu Oniru ‘Toolz’ and her pilot fiancé Tunde Demuren was said to among the most star-studded parties Lagos has yet seen. Photograph: Tolu Oniru. Credit: theguardian.com

'Go big or go home': Planning the perfect Lagos wedding

You can go to a wedding in Lagos every day between April and December – and you don’t even need to be invited, says Mo Dharrah Sage, editor of the Nigerian Wedding Blog.

Elite, stylish and extravagant, the social scene at the annual Lagos polo tournament is as much of a show as the game on the pitch (AFP Photo/Pius Utomi Ekpei)

Fascinators and fizz in elite Lagos Polo Club

Elite, stylish and extravagant, the social scene at the annual Lagos polo tournament is as much of a show as the game on the pitch.

Part of Yemisi Shyllon's art collection in Lagos, Nigeria

Looking for an investment? African art is hotter than gold (Photos & Videos)

Amid strong demand and skyrocketing prices, contemporary African art is increasingly attracting the attention of investors worldwide.

Luxury Goods in Africa - A Maturing Sector

Luxury Goods in Africa - A Maturing Sector (Report): KPMG

There has been a noticeable improvement in economic growth in Africa since the turn of the century, driven by an improvement in the business environment and investment climate, and a decrease in aggregate political risk.

The private jet route from Lagos to London was the eighth-fastest growing in 2013, according to NetJets. Photographer: Paul Taggart/Bloomberg

Africa will be second-fastest growing region for luxury goods through 2019

Rising 5.6% a year, Africa’s luxury retail sales may reach $5.2 billion by 2019. This is the second-fastest growth rate globally, Euromonitor estimates, trailing only the Middle East.

The rise in African buyers seeking homes in central London

The rise in African buyers seeking homes in central London

Central London’s residential market has long been the focus of international interest. Headlines have highlighted the significant numbers of Russian, Middle Eastern and Chinese buyers, but a new influx of buyers and investors from Africa is now demanding attention.

Super-rich Africans splash out big bucks for luxury London homes.

Super-rich Africans splash out big bucks for luxury London homes (Photos, Infographic, & Video)

Sophisticated, glamorous and spacious — when the super-rich go house-hunting they are searching for something special. Real estate in London’s swankier suburbs can catch a buyers’ eye. Mayfair, Kensington and Chelsea have long been the stomping ground of the elite — and are now welcoming a new wave of African investors.

Addis Ababa, Ethiopia

Ethiopia: The Addis millionaire's club

At first glance, Ethiopia would seem like a tough place for business owners to make it big. The strength of the state stands in contrast to the fledgling private sector, where foreign competition is barred in key industries and big sectors are entrusted to state-owned companies.

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 final look from Nadir Tati’s “40 years Of Independence” collection (Photo Credits: Rui Vasco)

At Portugal's Fashion Week ModaLisboa, It Was Angola That Reigned

It is one of Europe’s longest standing fashion weeks, initiated in 1991, and concluded its 44th edition over the past weekend. ModaLisboa is the bi-annual event in which Portugal’s fashion capital Lisbon gets to show what its local fashion industry is all about.

Dolce & Gabbana store at Heathrow Terminal 5

Nigerian travelers are biggest spenders at Heathrow Airport, says Heathrow Retail Director Jonathan Coen

Nigeria’s economic status appears rosy at London’s Heathrow Airport, the busiest international airport in Europe.

Eko Atlantic City, Lagos, Nigeria (Illustration)

Nigeria's Eko Atlantic City takes shape

The new multi-billion dollar Eko Atlantic City with residential and commercial tower blocks off the coast of Lagos in Victoria Island, is taking shape as developers forge ahead with infrastructure development.

Luxury home in Cape Town, South Africa

South Africa's top 10 suburbs for luxury homes

Cape Town’s Atlantic seaboard suburbs of Camps Bay and Clifton, along with Johannesburg’s wealthy Sandhurst and Hyde Park neighbourhoods, account for the majority of luxury homes in South Africa.

The Wheatbaker, Lagos, Nigeria

The top 10 hotels for service in Nigeria: TripAdvisor

The Wheatbaker hotel offers the corporate traveller all the comfort and convenience of a luxury boutique hotel. Lagos’ new premier exclusive hotel, is located in the residential heart of Ikoyi, Nigeria.

Reni Folawiyo, Founder & CEO of Alara. Credit: style.com

Lagos Rising: Alara Founder and CEO Reni Folawiyo talks to Style.com about her ambitious new store

Nigeria is the largest economy in Africa, and growing richer by the day, and bustling Lagos is a city full of moneyed, cosmopolitan fashion consumers. Habit among them has been to travel abroad to do their shopping—London, Paris, and Dubai are regular haunts.

Al Noor Tower, Casablanca, Morocco

Al Noor Tower, Casablanca, Morocco: 'Lord of the Rings' tower could be tallest in Africa

It may bear more than a passing resemblance to Barad-dur, the dark fortress of Sauron depicted in the Lord of the Rings trilogy, but the Al Noor Tower could become the tallest building on the African continent if construction begins as planned later this year.

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.

Business men in a cigar club in Lagos, Nigeria

Africa's First City: Lagos, Nigeria

When he was 15 years old, David Adeoti worked in an Internet café in blue-collar Satellite Town, where it was almost possible to see the gleaming towers of Lagos Island less than ten miles to the east.

Table decoration at a Nigerian wedding (Photo Credits: Privé Luxury)

How Nigeria's Rich Spend Over $2 Million On Their Dream Wedding

Illusionists flown in from Spain, flowers imported from France, or an R&B superstar flown in from the United States.

Zainab Ashadu, Founder of designer handbag maker Zashadu

Zainab Ashadu: The brains behind Nigerian designer handbag maker Zashadu

Nigerian designer, Zainab Ashadu, is the brains behind the Zashadu brand of designer handbags, whose modern, colorful creations use the ancient art of tanning and leather-dyeing from Northern Nigeria.

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.

Johannesburg skyline | Source: Shutterstock

In South Africa, more evolution than revolution

When Khanyi Dhlomo opened a plush designer boutique here late last year, it revealed as much about the national psyche as it did about the local fashion industry.

Mercedes-Benz Fashion Week Africa

Africa Fashion Week Showcases the Continent’s Best Talent (Video)

The growing trend of Fashion Weeks across the African continent challenges the notion that global fashion starts in the northern hemisphere.

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.

Africa's growing middle class: A woman tries on an earring in a jewelry shop

African economy to grow 50% by 2019 on emerging middle class and increased household demand, says Deloitte

Africa’s gross domestic product may expand by 50 percent to $3.7 trillion by 2019, boosted by an emerging middle class and increased household demand, according to Deloitte.

Folorunsho Alakija of Nigeria is the richest black woman in the world, ahead of Oprah Winfrey, with a personal fortune of $7.3bn from oil and gas. Photograph: Bennett Raglin/Getty Images

Nigerian billionaires dominate African rich list with £49B ($78B) between them

Nigeria has more billionaires than any other country in Africa, including the continent’s wealthiest man and the world’s richest black woman, according to a ranking published this week.

MAC Cosmetics

Bringing Estée Lauder's MAC cosmetics to Kenya a dream come true for entrepreneur Joyce Gikunda

Two weeks ago a retail outlet of the US cosmetics brand MAC launched in Nairobi, the first in East Africa.

Zainab Ashadu, founder of designer handbag maker Zashadu

Zainab Ashadu, founder of designer handbag maker Zashadu, on her design philosphy of sustainability and durability (Video)

Zashadu is a leading British/Nigerian sustainable luxury brand, that specializes in hand-crafted leather pieces.

Eden Diodati

African Women to Watch: Fashion (Video)

Major international brands are seeking to cash in on Africa’s rapidly-expanding consumer class. Africa has become a major hub for the consumption of premium fashion brands.

If they are not buying, they are renting luxury homes for up to £15,000-per-week and staying for between six weeks and three months.

African oligarchs splash out on London homes

A new wave of African oligarchs are following the trail blazed by Russian billionaires, buying up luxury properties in some of London’s most exclusive postcodes, according to new research.

A mixed use high density development stands as part of the Wescape real estate project in Cape Town, South Africa, in this undated handout illustration.

Building a Boston in Cape Town: $13B dream rises from ashes of apartheid

David Pearson has a vision: a new community of 800,000 — bigger than Boston — complete with factories, schools, clinics and a university that will help erase the legacy of apartheid in Cape Town.

Alex Kyriakidis, President, Middle East and Africa, Marriott International

Marriott Sees 'Super Growth' in Africa's Three Biggest Economies: Alex Kyriakidis, President, Middle East and Africa, Marriott International

Marriott International Inc. (MAR) may build 40 to 50 hotels in Nigeria, South Africa and Egypt each by 2020 to benefit from a surge of travelers, said Alex Kyriakidis, the chain’s president for the Middle East and Africa.

Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

Africa is finally on the path to becoming a consumer society: Mark Mobius, Executive Chairman, Templeton Emerging Markets Group

For readers of a certain age, the name of Africa will never sit comfortably alongside the word luxury.

South African Properties

South Africa's middle class is a force to be reckoned with

As the ranks of black middle and upper classes have swelled in the 20 years since South Africa’s first democratic election, so too have the aspirations of a wealthy new elite.