SSACC member Le Noir PR brings us Africa Fashion Week Stockholm (AFWS) for the second year running. This year SSACC is proud to be one of the main sponsors for the event in a newly formed partnership between SSACC and AFWS which we look forward to continue for many years to come.
The Fashion Industry now receives an annual revenue of $2.5 trillion, with an unprecedented global economy shift of power towards emerging market cities it is therefore unsurprising that women’s apparel market growth will accelerate driven by the increasing weight of emerging markets. Historically the industry has grown 3% annually but by 2025 is expected to be at 5%. Emerging markets will account for 55% of apparel sales and 60% of the growth, 62% of women’s apparel market growth will come from the 600 growth cities, of which 16 of the top 20 are in emerging markets.
Sub-Saharan Africa (SSA) has the potential to become the global manufacturing destination, especially considering the rising cost pressure in traditional markets such as China. Swedish fashion retailer giant H&M is one of the latest global companies to experiment with sourcing its products from sub-Saharan African countries. It has placed test orders for garments from Ethiopian and Kenyan suppliers and plans to open outlets in South Africa. A number of European fashion brands, including Topshop, Zara and Mango, have expanded to countries such as South Africa and Nigeria in recent years. Online retailing is also growing, offering new sales avenues. Nigeria for example with 56 million internet subscribers and 120 million active mobile lines (2013), has witnessed a massive increase in e-commerce. This is expected to grow further as infrastructure and confidence in online retail grow – British online fashion store ASOS now delivers to Nigeria
Economic trends such as high growth in urbanization, a youth skewed demographic, growing middle class and internet subscribers makes the potential of the fashion industry in SSA vast. Despite these positive indicators SSA still has many challenges that must be over come in order for the true potential of the industry to be reaped. Infrastructure is one of the main challenges, along with lack of government policies (for example financing) to serve as enablers for the industry to grow. External challenges include issues such as “dumping”: over production from Turkey and China, last seasons clothing from Europe and the US and used clothes from consumers in developed countries under the hospice “help Africa”. It is also important for SSA to develop the full value chains in the industry, that is, from cotton farming to clothing manufacturing. The African Cotton & Textile Industry Federation (ACTIF) calculate that if 100% value was added to the lint currently produced in Africa it would translate to the creation of 9 million jobs for the continents textile industry.
The capacity building for the fashion industry must therefore begin from growing SSA’s textile industry, encouraging investments in this space which would subsequently grow the Fashion Industry.
1. Johannesburg & Cape Town – South Africa – $28.8 billion
2. Lagos – Nigeria – $4.7 billion
3. Luanda – Angola – $1.5 billion
4. Dar Es Salaam – Tanzania – $1.1 billion
5. Nairobi – Kenya – $1 billion
6. Kinshasa, Congo DRC – $620 million
7. Abidjan – Ivory Coast – $549 million
8. Addis Ababa – Ethiopia – $440 million
9. Dakar – Senegal – $215 million
10. Accra – Ghana – $167 million
Africa Fashion Week Stockholm (AFWS) 2015 will be a 3 day event, organized by Le Noir PR with SSACC as one of the main sponsors. This is a must event for all those that are interested in entering this space or currently engaged in the industry in Africa and are looking to expand. The event will kick off with a VIP Dinner on the 1st of October, in attendance will be Stockholm Fashion Week, Stockholm Fashion District, Companies engaged in this industry both in Sweden and Africa, Swedish designers of African Origin, The Diplomatic Missions of SADC and many more. more information on AFWS-2015 click HERE