Africa's love of luxury brands to be satisfied

The consumption of luxury goods in Africa is expected to grow considerably as expensive brands make their way into the continent. “The potential of growth on to the African continent is immense, coming off a lower base. The saturation that is taking place in the United States, in Europe and China is starting to slow down and I think the next target for any luxury brand is to go into the African continent,” Richard Schafer from the South African Luxury Goods Association told CNBC

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