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).”



Pieter Mulier Named Creative Director of Versace

(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)
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Pieter Mulier Named Creative Director of Versace

(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)
(FILES) Pieter Mulier attends the 2025 CFDA Awards at The American Museum of Natural History on November 03, 2025 in New York City. (Photo by Dimitrios Kambouris / GETTY IMAGES NORTH AMERICA / AFP)

Belgian fashion designer Pieter Mulier has been named the new creative director of the Milan fashion house Versace starting July 1, according to an announcement on Thursday from the Prada Group, which owns Versace.

Mulier is currently creative director of the French fashion house Alaïa, and was previously the right-hand man of fellow Belgian designer and Prada co-creative director Raf Simons at Calvin Klein, Jil Sander and Dior.

In his new role, Mulier will report to Versace executive chairman Lorenzo Bertelli, the designated successor to manage the family-run Prada Group. Bertelli is the son of Miuccia Prada and Prada Group chairman Patrizio Bertelli.

“We believe that he can truly unlock Versace’s full potential and that he will be able to engage in a fruitful dialogue,’’ The Associated Press quoted Lorenzo Bertelli as saying of Mulier in a statement.

Mulier takes over from Dario Vitale, who departed in December after previewing just one collection during his short-lived Versace stint.

Mulier was honored last fall by supermodel and longtime Alaïa muse Naomi Campbell at the Council of Fashion Designers of America for his work paying tribute to brand founder Azzedine Alaïa. Mulier took the creative helm in 2021, after Alaïa’s death.


Ralph Lauren’s Margin Caution Eclipses Stronger‑than‑expected Quarterly Results

Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo
Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo
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Ralph Lauren’s Margin Caution Eclipses Stronger‑than‑expected Quarterly Results

Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo
Guests wait after viewing the latest Ralph Lauren collection in New York City, US, April 17, 2025. REUTERS/Caitlin Ochs/File photo

Ralph Lauren posted third-quarter results above Wall Street estimates on Thursday, but the luxury retailer's warning of margin pressure tied to US tariffs sent its shares down nearly 6.4% in premarket trading.

The company expects fourth-quarter margins, its smallest revenue period, to shrink about 80 to 120 basis points due to higher tariff pressure and marketing spend.

Ralph Lauren, which sources its products from regions such as China, India and Vietnam, has relied on raising prices and reallocating production to regions with lower duty exposure to offset US tariff pressures, Reuters reported.

"Ralph Lauren has been able to raise prices for some time now. There is some limit on how long it can continue to do this. I think (the company's) gross margins are near peak levels," Morningstar analyst David Swartz said.

The company, which sells $148 striped linen shirts and $498 leather handbags, has tightened inventory, lifted full-price sales and refreshed core styles, boosting its appeal among wealthier and younger customers, including Gen Z.

Higher-income households are still splurging on luxury items, travel and restaurant meals, while lower- and middle-income consumers are strained by higher costs for rents and food as well as a softer job market.

The New York City-based company saw quarterly operating costs jump 12% year-on-year as it ramped up brand building efforts through sports-focused brand campaigns such as Wimbledon and the US Open tennis championship.

The luxury retailer said revenue in the quarter ended December 27 rose 12% to $2.41 billion, above analysts' estimates of a 7.9% rise to $2.31 billion, according to data compiled by LSEG.

It earned $6.22 per share, excluding items, compared to expectations of $5.81, aided by a 220 basis points increase in margins and an 18% rise in average unit retail across its direct-to-consumer channel.

Ralph Lauren now expects fiscal 2026 revenue to rise in the high single to low double digits on a constant currency basis, up from its prior forecast of a 5% to 7% growth.


Saudi Fashion Commission, Kering Launch 'Kering Generation Award X MENA'

This year's award builds on the strong success of the 2025 award, which attracted more than 500 applications, shortlisted 21 finalists, and recognized three winners. SPA
This year's award builds on the strong success of the 2025 award, which attracted more than 500 applications, shortlisted 21 finalists, and recognized three winners. SPA
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Saudi Fashion Commission, Kering Launch 'Kering Generation Award X MENA'

This year's award builds on the strong success of the 2025 award, which attracted more than 500 applications, shortlisted 21 finalists, and recognized three winners. SPA
This year's award builds on the strong success of the 2025 award, which attracted more than 500 applications, shortlisted 21 finalists, and recognized three winners. SPA

Saudi Arabia’s Fashion Commission and global luxury group Kering have launched the "Kering Generation Award X MENA" across the Middle East and North Africa (MENA) for 2026.

The announcement was made on Tuesday during the opening of the RLC Global Forum, hosted at the French Embassy in Riyadh.

This year's award builds on the strong success of the 2025 award, which attracted more than 500 applications, shortlisted 21 finalists, and recognized three winners.

Participants benefited from mentorship programs, workshops, and opportunities to strengthen their global presence. Building on this momentum, the 2026 program seeks to expand its impact across the MENA region.

The 2026 award focuses on four key areas of sustainable fashion: innovation in regenerative materials and clean production, circular design and sustainable business models, nature conservation and animal welfare, and consumer awareness and cultural engagement.

The program targets startups across the MENA region that operate in, or positively influence, the sustainable fashion sector, provided they demonstrate innovation capabilities and the ability to deliver measurable sustainability outcomes.