Two industry leaders join together as Africa’s consumer appetite for luxury experiences and goods flourishes, helping to spotlight African success stories
LAUSANNE, Switzerland, February 14, 2020/ — Lux Afrique (http://LuxAfrique.net), the luxury lifestyle platform dedicated to Africa, today appointed APO Group (www.APO-opa.com), the leading pan-African communications and business consultancy, as their public relations agency of record.
Lux Afrique are a leading concierge, lifestyle and networking service for over 500 high-net-worth (HNW) individuals across Africa. CEO Alexander Amosu founded the company in 2017 to change the narrative about Africa by celebrating the luxury underpinned by the continent’s rapidly growing prosperity. In blending Amosu’s understanding of African consumer needs and expertise in the luxury market, Lux Afrique curates the experiences and products that reflect quality, exclusivity, workmanship, and beauty that HNW individuals seek out. LuxAfrique also facilitates convenient access to more than 60% of the top global luxury lifestyle brands, including Rolls-Royce, Harrod’s, and Louis Vuitton, and develops a positive position for top African luxury brands on its platform, Lux Afrique Boutique (https://LuxAfrique.Boutique). Moreover, Lux Afrique introduces luxury-focused brands to HNW consumers throughout Africa, helping them take advantage of opportunities to engage, enhance, and maintain visibility across the continent. As the company’s official communications consultancy, APO Group’s public relations and storytelling expertise will spotlight Lux Afrique’s work and the African success stories rich in technology, creativity, and innovation that underpin this dynamic market.
The luxury market in Africa is flourishing, with customers projected to spend over $1trillion on luxury goods in 2020 (https://bit.ly/38r3PGp), according to McKinsey’s Global Institute. This growth is driven in part by economic development stemming from the continent’s digital revolution, as well as by Generation Z and Millennials, who will represent around 55% of the market in 2025 and who will contribute 130% to growth during this period. As the focus shifts from middle-class prosperity to the emergence of HNW individuals [140,000 and counting (https://bit.ly/2vur9oe)], it is estimated that the number of millionaires on the continent will rise by 53% to nearly 258,000 by 2024.
Unlike individual emerging markets such as China, Russia and UAE, Africa is a region represented by 54 different nations, offering a dynamic and unmatched potential. Lux Afrique is best positioned to create opportunities for the world’s biggest brands to break into new markets while giving African businesses and HNW individuals access to premium brands in the luxury industry. APO Group, with its unparalleled media reach, is well-placed to deliver these stories to African and global audiences.
Lux Afrique and APO Group also share a vision of highlighting African success and the potential of African culture and its people, raising the profile of the entire continent in the process. The two companies first joined forces when APO Group proudly sponsored the Lux Afrique Nigerian Independence Day dinner (https://bit.ly/37oPol6) held at Claridge’s in London on 1 October 2019 and will continue similar initiatives, including the 2020 Lux Afrique Nigerian Independence Day dinner and Polo Day events.
“We believe high-net-worth Africans are yet to enjoy the full potential of their wealth in the luxury goods sector, based mainly on access to goods and services,” said Lux Afrique founder Alexander Amosu. “Lux Afrique is taking advantage of the misconceptions about wealth in Africa by making meaningful connections between luxury brands and the continental HNW consumer market. APO Group, through their network and their reputation in the media community, are perfectly placed to help us carry a positive African luxury narrative to new audiences all over the world.”
“This is a hugely exciting and significant opportunity for us,” said APO Group CEO, Lionel Reina. “Lux Afrique are innovating how the luxury goods industry thinks about and is marketed across Africa. It is an excellent moment to use APO Group’s expertise and reach to help communicate this inspiring story. Moreover, Lux Afrique share our vision for a prosperous and successful Africa. There is a lot to be done to achieve that, but by joining forces, we can work on our long-term plan to drive positive African stories not only into the media, but deep into the public consciousness.”