Dior and Chanel, two visions of fashion on the African continent

According to a study by AfrAsia Bank Africa Wealth Report 2021 in collaboration with South Africa-based consultancy New World Wealth, the income of Africa's wealthy class is growing rapidly. The results of the study predict that this class’s income will grow by 30% over the next 10 years to reach 2.6 trillion dollars in 2030. A strong increase boosted by the number of High-Net-Worth Individuals (HNWI) on the continent, which could total 198,000 customers by 2026. South Africa, Egypt, Nigeria, Morocco and Kenya account for more than 50% of the continent's wealthy, but new countries are emerging. This phenomenon has created a new and very attractive clientele for luxury houses, especially in sub-Saharan Africa.

In 2016 already, the luxury sector in Africa represented 3% of the global market, generating $5.9 billion. While these regions are still plagued by chronic political instability, insecurity due to terrorism and drought problems aggravated by global warming, fashion is promoting cultural exchanges. Are the two fashion shows in Africa a simple coincidence or is it a common strategy for both luxury actors to penetrate the market?

Saturday, December 3, at nightfall, Dior presented its Fall 2023 men's collection in front of the pyramids in Cairo. An exceptional show, with a setting and images that have travelled around the world and flooded social networks. This is not the first time Dior sets up a fashion show in Africa, since the Parisian house had presented its 2020 cruise collection in Marrakech. But it was the first fashion show in the history of fashion that took place among the Giza pyramids.