Following a highly successful maiden event last year, The Luxury Lifestyle Market (TLLM), is scheduled to hold again on February 8 and 9, 2019 at the Balmoral, Federal Palace Hotel to cater to luxury shoppers.
Founded by Abisola Kola-Daisi, entrepreneur and Florence H Luxury Founder the event promises to connect shoppers to a carefully curated selection of beauty, fashion and lifestyle brands at discounted prices.
Commenting on the event, Kola-Daisi said: “Last year, lovers and buyers of luxury gathered at the first edition of The Luxury Lifestyle Market for a two-day pop up event.
“Guests were treated to an array of African luxury brands at discounted prices – such as Florence H Luxury, Mazelle Perfumery, J Label, RnR Luxury, and lots more- against the backdrop of great music and good food.
“The African luxury market is a new, albeit growing, industry with a rapidly expanding wealth class that displays the desire to spend on luxury brands.
“The rise in social and digital media has heavily contributed to this, as the ease of sharing information about brands and products has reached an all-time high.”
She further added: “The Global luxury goods sale is expected to reach approximately $405 billion globally by 2019, with Africa contributing significantly to this market, growing at a rate of 5.6per cent per year according to the World Bank. Leading the charge in the growth in the luxury market in Africa is South Africa, followed closely behind by Nigeria.
“However, despite the growth in consumer demand and buying power within the content, African luxury brands have struggled to meet demands and define themselves as “luxury” on local and international stages.
“International luxury brands have also expressed weariness to expand their markets to Africa, citing infrastructural weaknesses and low faith in African consumer demand for luxury as reasons.
“The African luxury market shows great potential in establishing itself as a strong force on local and international levels with high consumer demand, which can be only be harnessed when challenges facing the industry are overcome.
“Infrastructural issues such as a lack of skilled labour, technological advances such as e-commerce and weak government regulations, need to be addressed.”
This year, TLLM will host the “Modern Day African” edition, with a focus on presenting Africa as a new frontier for the luxury market. The event will include top vendors and will involve meet and greets with top influencers in the industry. Shoppers will be treated to discounted prices, good food and drink, and great music.
TLLM aims to set the pace for what the future of African luxury should look like by bringing together industry leaders, fashion buyers and luxury connoisseurs from across Africa.
TLLM is positioning itself to fill the gap in the market for a growing demand for luxury within the continent, empower local luxury brands and challenge negative stereotypes about the potential for a formidable African luxury market.