Let’s talk about black owned luxury

Whilst we are facing an uncertain future, and the income disparity is set to be exacerbated, in 2019, the combined buying power of blacks, Asian-Americans and Native Americans was estimated to be $2.4 trillion, while the nation’s Hispanics command $1.5 trillion in spending power—larger than the GDP of Australia.

Africa now has the fastest-growing middle class in the world. Some 313 million people, 34% of Africa’s population, spend USD 2.20 a day, a 100% rise in less than 20 years, according to the African Development Bank. It is the world’s fastest-growing middle class. Let’s talk about not prohibiting the black community from participating in luxury fashion conversations. If we continue to act like we don’t have a place in these spaces, we will continue to only be product buyers and never brand owners.