State of the Luxury Market in Africa
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GUEST – Michael Zahariev, Co-founder of Luxity
As South Africa steps into the festive season, one sector is quietly rewriting the rules of spending: luxury. But this year, the story isn’t about splurging for the sake of it’s about buying smarter, choosing better, and treating luxury as both lifestyle and long-term value.
We unpack the State of the Luxury Market in Africa Report with Michael Zahariev, co-founder of Luxity, to understand why luxury isn’t shrinking it’s evolving.
Despite a slight dip after years of explosive growth, the market is shifting toward investment-grade luxury: pieces that hold or even grow in value. Think Rolex watches reselling above retail, Hermès and Cartier strengthening their “value floors,” and a major rise in categories like jewellery (+43.8%) and bags (+14.6%) as buyers seek durability, craftsmanship, and long-term return.
As South Africa steps into the festive season, one sector is quietly rewriting the rules of spending: luxury. But this year, the story isn’t about splurging for the sake of it’s about buying smarter, choosing better, and treating luxury as both lifestyle and long-term value.
We unpack the State of the Luxury Market in Africa Report with Michael Zahariev, co-founder of Luxity, to understand why luxury isn’t shrinking it’s evolving.
Despite a slight dip after years of explosive growth, the market is shifting toward investment-grade luxury: pieces that hold or even grow in value. Think Rolex watches reselling above retail, Hermès and Cartier strengthening their “value floors,” and a major rise in categories like jewellery (+43.8%) and bags (+14.6%) as buyers seek durability, craftsmanship, and long-term return.
