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).”



Hermes to Hike US Prices to Offset Tariff Impact

FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa
FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa
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Hermes to Hike US Prices to Offset Tariff Impact

FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa
FILED - 22 October 2020, Hamburg: The Hermes brand logo, can be seen at a Douglas store on Jungfernstieg. French luxury fashion brand on Thursday reported a rise in revenue for the first quarter, helped by growth across all geographical areas. Photo: Daniel Reinhardt/dpa

French luxury group Hermes said Thursday it would hike its prices in the United States to offset the impact of 10-percent import tariffs imposed by President Donald Trump.

Famous for its Birkin handbag, silk scarves and leather goods, the increases would take effect on May 1, said the group's finance chief, Eric Halgouet.

Halgouet did not say by how much prices would be raised, but he said the move would "fully offset" the tariffs impact, AFP reported.

"It will be a complementary price increase that we are currently finalizing, but which will allow us to neutralize this impact," he told reporters during a quarterly earnings presentation.

Hermes, also known for the "H" logo on its belts and other goods, usually raises prices once a year and had already announced worldwide increase of between six and seven percent earlier in 2025.

Hermes overtook French rival LVMH as the world's most valuable luxury group this week after the share price of the Louis Vuitton maker sank on disappointing earnings.

Hermes posted global sales of 4.1 billion euros ($4.7 billion) in the first quarter of 2025, an 8.5 percent increase from the same period last year.

Sales in the Americas region jumped 13.3 percent to 695 million euros, with double-digit growth in the United States, Canada, Mexico and Brazil, Halgouet said.

US sales were disrupted by wildfires in Los Angeles, which forced the closure of two shops for several days, and snow storms in other states.

Trump imposed a 10 percent tariff on imports from around the world this month, but he delayed higher duties on dozens of other countries, including a 20 percent levy for goods from the European Union.