Lux Afrique Boutique (LAB), is the first luxury online shopping platform that offers its VIP clients an opportunity to purchase and take delivery of luxury goods anywhere in Africa.
Historically, luxury brands have traditionally been associated with developed nations, as a result of this, it became common practice for both Ultra High Net Worth (UHNW) & High Net Worth (HNW) markets of African nations to dominate well known international luxury retailers such as Harrods, Saks, Harvey Nicholls and other respected retailers. Subsequently with the growing trend of online buying, luxury retailers entered the same market.
For example, Net-A-Porter first made its appearance in the year 2000 and has now firmly solidified itself as one of the market leaders in Europe for online luxury brands. This too can be said for FarFetched, Lane Crawford in Asia Pacific, and Nordstrom for North & South America.
What remains to be explored is a market leader for the continent of Africa. This is where the expertise of Lux Afrique has a clear benefit and advantage to partnering brands.
Brands like Louis XIII, David Morris, Yoko London, Montegrappa, Boadicea, Stephen Webster are just a some of the brands already signed up to the shopping platform, with more joining on a daily basis. The online shopping platform offers its HNW clients across the African continent an opportunity to shop at the same prices as retail outlets in Paris, London or Milan from the comfort of their homes.
The growing world of luxury constantly draws in new consumers and in fact, according to a recent study published by Bain & Company, the market is expected to grow by 5% in 2019. This growth is due in particular to the developing digital world, and to Generation Z, Millennials – who will represent around 55% of the market in 2025 and will contribute 130% growth during this period – and the increase in a new-found demand of customers in emerging countries.
Alexander Amosu, CEO of Lux Afrique Boutique states: “We already have a great experience with the requirements of the African HNW market, a classic example is a client in Lagos, Nigeria going to an event in 48hrs and needing the perfect ensemble right through from cocktail dress to matching shoes and accessories. As soon as she placed her order, LAB got it on a plane for our client to receive it the very next day. LAB offers a variety of logistic services, however in this case what was required was the pinnacle, is an expedited white glove delivery service. Essentially, African luxury consumers now have a company they can rely on to deliver all their favourite luxury brands to their homes or office anywhere on the continent.”
Luxury brands will continue to capture the imagination and set trends, even in an environment of dynamic financial conditions, typical of emerging markets. Additionally, the global luxury market is constantly looking to reach untapped markets, especially in Africa. LAB already offers a selection of luxury products that correspond to current trends and are aligned with the expectations of HNW customers. “LAB’s unique advantage is that Through its client base, it can support the growth of its luxury brand partners on the African continent in any market where they wish to strengthen their presence. With the rise of new forms of commerce linked to the digital economy, this is an opportunity for LAB and we are better placed to meet consumer demand in Africa,” Amosu adds.
Made in Africa
Lux Afrique Boutique is delighted to and will offer a selection of Africa’s most talented and respected designers as part of our ‘Made in Africa’ range.
Elegant and luxurious creations from across the continent will be featured on the online platform, side by side, with traditional western luxury creators.