Browsing: Fashionomics

Fashion business in Africa is booming
  • Over 180 works of fashion from 40 designers drawn from across 20 countries in Africa are currently exhibiting in Brooklyn, New York.
  • The Africa Fashion is celebrating works by iconic designers and artists from Nigerian Shade Thomas-Fahn, Ghana’s Kofi Ansah, South African Thebe Magugu and Djibouti’s Gouled Ahmed.
  • South Africa, Nigeria, Ghana, Morocco and Kenya boast of a dynamic local fashion scene setting trends in African fashion.

Africa’s dynamic and lucrative fashion industry has taken center stage at the Brooklyn Museum in New York in the ongoing ‘Africa Fashion’ display that ends on Sunday, 22nd October 2023.

The landmark event has been hailed as the largest presentation of African fashion. It involves more than 180 works from over 40 designers drawn from 20 countries in the continent. Africa Fashion celebrates works by iconic designers and artists. Some of the industry’s icons are Nigerian Shade Thomas-Fahn, Ghana’s Kofi Ansah to …

african fashion

Africa’s fashion industry is a potential gold mine with the capacity to grow into a billion dollar industry. The fashion industry worldwide is estimated to be worth over $1.5 trillion. With the resources and creative minds in Africa, there is enormous capacity to take a more significant piece of this pie. Africa’s fashion scene is anchored on a vibrant culture and the mix of color, texture, and bespoke designs that make African fabric. From the traditional to the contemporary, African designers have an impeccable creative eye.  

The industry has gained recognition on the international stage. For instance, African designer Deola Sagoe has dressed famous music stars like Rihanna. This points to the significant potential that can be realized to transform the fashion industry into a lucrative economic sector. 

Young people must be groomed to realize the untapped potential that lies in the sector. It is particularly pertinent for young

The African fashion industry is hanging on by a thread and stitch, as it continues to suffer plummeting revenues in the wake of the Covid-19 pandemic, swiftly thrusting it into economic distress. According to the research group Euromonitor, the apparel and footwear industry is cumulatively estimated to be worth $31 billion. However, the vibrant industry is teetering on the edge of a precipice, with a plethora of challenges that have brewed up a storm, with rippling effects across the supply chain due to its interconnected nature. Covid-19 has just stirred up a hornets’ nest in the industry that was already on high alert. 

Prior to the pandemic, the fashion industry was generating $2.5 trillion in global annual revenues, but is set to contract by 27 to 30% in 2020, based on a joint report dubbed ‘The State of Fashion 2020, Coronavirus update’