Black owned luxury

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.

Post Comments