UNESCO: Africa’s Fashion Industry is Growing but Needs More Investment

Models wear a creation by Cynthia Abila during the Lagos Fashion Week in Lagos, Nigeria, Thursday, Oct. 26, 2023. (AP Photo/Sunday Alamba)
Models wear a creation by Cynthia Abila during the Lagos Fashion Week in Lagos, Nigeria, Thursday, Oct. 26, 2023. (AP Photo/Sunday Alamba)
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UNESCO: Africa’s Fashion Industry is Growing but Needs More Investment

Models wear a creation by Cynthia Abila during the Lagos Fashion Week in Lagos, Nigeria, Thursday, Oct. 26, 2023. (AP Photo/Sunday Alamba)
Models wear a creation by Cynthia Abila during the Lagos Fashion Week in Lagos, Nigeria, Thursday, Oct. 26, 2023. (AP Photo/Sunday Alamba)

Africa’s fashion industry is growing rapidly to meet local and international demand but inadequate investment limits its potential, UNESCO said Thursday in a report released during Lagos Fashion Week.
Currently valued at $15.5 billion worth of exports annually, the earnings from the continent's fashion industry could triple over a decade with the right investment and infrastructure, according to UNESCO Director-General Audrey Azoulay, who launched the organization’s first report on fashion in Africa in Nigeria’s economic hub of Lagos.
With a young population of 1.3 billion people set to double by 2050, the continent’s fashion industry has also proven to be both “a powerful lever for the promotion of cultural diversity (and) also a way to empower young people and women,” The Associated Press quoted Azoulay as saying.
Across the continent, fashion continues to grow on various fronts – including in movies and films – in the form of textiles, garments as well as accessories and fine crafts, all with a long history of prestige and symbolic of the African culture.
The demand for African fashion brands is also spurred by the growth in e-commerce, the UNESCO report noted.
Africa leads mobile device web traffic in the world, according to the US International Trade Administration. That has opened more market opportunities such that across Nigeria, for instance, young people on social media are steadily opening fashion brands.
“Africans want to wear Africa. It’s really beautiful to see because it hasn’t always been like this,” said Omoyemi Akerele, who founded the Lagos Fashion Week in 2011 to encourage the patronage of Nigerian and African fashion. “But fast forward, a decade after, that’s all people want to wear."
Featuring a mix of designers from across the continent, the annual fashion show celebrates — and provides a market for — local brands mostly highlighting African culture and crafts in various colors and styles.
In Nigeria and other parts of Africa, young fashion designers are hungry for success and are taking over the global scene, said the UNESCO director-general.“A new breed of young designers is causing a stir in the international scene, reinventing the code of luxury while at the same time reconciling them with the demands of sustainable, local fashion and heritage," she said.
One such designer at the Lagos Fashion Week, Ejiro Amos-Tafiri, said she uses her brand to tell African stories while celebrating “the sophistication, class and uniqueness of every woman.”
“With more exposure, people are coming to realize that there is a lot of culture in the Nigerian culture, particularly in the fashion industry,” she said. “So Africa is really the next frontier (for the fashion industry).”



Saudi Fashion Commission Issues Research Paper on 'Fashion Week Economics'

The Saudi Fashion Commission logo
The Saudi Fashion Commission logo
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Saudi Fashion Commission Issues Research Paper on 'Fashion Week Economics'

The Saudi Fashion Commission logo
The Saudi Fashion Commission logo

The Saudi Fashion Commission has issued its research paper for the fourth quarter of 2025, titled Fashion Week Economics, as part of its continued commitment to providing leading sector insights through the Fashion Futures platform.

The paper presents an in-depth analysis of Riyadh Fashion Week's contribution to local economic growth and explores the role of global fashion weeks in the global economy.

It highlights how Riyadh Fashion Week reflects the Kingdom's cultural and creative development, marking the beginning of a new era for Saudi creative industries, one driven by cultural confidence and economic ambition, through a dynamic integration of creativity, commerce, and culture aligned with the vision of a thriving creative economy.

The research also examines themes including the economic and cultural value of fashion weeks worldwide, the role of fashion-week events as global economic drivers, and case studies of various brands showcased at Riyadh Fashion Week 2025.

Through publishing this paper, the Fashion Commission continues to provide essential economic data and sector insights into the rapidly evolving fashion industry.

Riyadh Fashion Week targets designers, brands, creative talent, buyers, retailers, sponsors, and partners, serving as a central platform for opportunities across the market. Its rapid expansion across three editions, featuring more than 100 participating brands and attracting approximately 27,000 visitors, has delivered significant value in terms of media presence, relationship building, and business growth for participants.

The participation of major global fashion houses such as Vivienne Westwood and Stella McCartney in the third edition further reflects Riyadh’s growing influence in international luxury circles and its increasing global standing.


Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh
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Fashion Commission Launches 1st Executive Master’s Program in Riyadh

Fashion Commission Launches 1st Executive Master’s Program in Riyadh

The Fashion Commission announced the launch of the first Executive Master’s program to be delivered in Riyadh, developed in collaboration with the world-renowned Institut Français de la Mode (IFM).

The new program marks a significant leap in advancing fashion education and executive training within the Kingdom, according to SPA.

The Executive Master’s in Strategic Management of Fashion & Luxury represents a new milestone in fashion education, taking place in Riyadh for the first time. It is a 15-month hybrid executive master’s degree track designed for high-potential professionals seeking advanced executive training while continuing their careers. Delivered through a blend of in-person modules in Riyadh and Paris, alongside supervised online learning, the program equips participants with strategic, managerial, and analytical expertise tailored to the rapidly evolving fashion and luxury sector.

Designed with market needs in mind, the executive master’s curriculum covers creation and design, brand strategies, sustainability, new consumer behaviors, retail innovation, fashion media, collection management, and future industry perspectives. Participants will also complete a thesis that contributes new knowledge to the regional and global fashion landscape.

The program is taught by IFM’s internationally recognized faculty, experts in fashion history, sustainability, consumer behavior, design, and luxury management, alongside industry leaders from major global houses, fashion federations, media groups, and innovation-driven organizations.

This landmark program builds on the Fashion Commission’s ongoing partnership with IFM since June 2022. Within the first year, the collaboration introduced high-level educational initiatives, including the Advanced Management Program for Luxury Fashion and the Executive Master’s in Luxury Fashion, designed to elevate local talent and strengthen the Kingdom’s creative workforce.

These programs have contributed to developing the skills and knowledge required to support a world-class fashion ecosystem.

The launch of the Executive Master’s marks a pivotal step in establishing Riyadh as an education hub for the fashion and luxury sectors. By bringing a master’s qualification of this caliber directly to the Kingdom, the Fashion Commission reinforces its commitment to enabling professional growth, supporting innovation, and creating globally competitive talent pipelines.


Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
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Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.