Clur International (Pty) Ltd’s Post

East Africa is emerging as a new luxury hotspot! 🌍 Neylor's Hub is at the forefront of this exciting movement, bridging the gap between global luxury and the discerning tastes of Africa's next-gen consumers. Why East Africa? * Rapidly growing economies * Rising middle class * Increasing demand for exclusivity Our Vision: Creating a luxury ecosystem that blends global craftsmanship with local culture. Offering personalized experiences and exclusive access to rare finds. Building strong partnerships with leading luxury brands. Key Trends Shaping the Luxury Market in E.A.: * Sustainability & Ethical Luxury * The Rise of Digital Luxury * Experiential Luxury Let's Redefine Luxury Together! Are you a luxury brand looking to enter the East African market? Let's connect and explore the potential of this dynamic region. #luxury #EastAfrica #NeylorsHub #futureofluxury #luxurylifestyle

What makes the Middle East such a unique market for luxury retail? Well, for starters, the Middle East is neither a continent nor a country, and can’t be seen as a homogenous market. It’s a cultural melting pot of languages and traditions, and boasts a robust population of over half a billion people spanning across 18 countries. Unlike the rest of the world, the region boasts a thriving economy where 70% of shoppers in the region claim to be increasing their spend on luxury goods in the Middle East, compared to the average of 53% in more mature markets. In fact, according to Goldstein Research, Middle Eastern premium consumers are among the leading spenders on luxury goods, the tenth highest spenders in the world. The question must be asked: What are the key drivers pushing luxury retail spending in this region? Key driver #1: Economic growth increases spend With five Middle Eastern countries on the list of top ten oil producers across the world, we can expect to see a large amount of foreign exchange and trade continue to flow into the region. Rising oil prices will only result in further economic growth and investment. Key driver #2: Tourism boosts luxury retail There is a constant influx of tourists into the Middle East, with Dubai alone receiving close to 20 million tourists annually. The Expo 2020 received over 24 million visitors from 178 countries, making Dubai one of the top five most-visited cities globally. And what do these tourists do when they visit the region? They shop for the world’s best luxury brands, of course. Key driver #3: Emerging demographics Approximately 50% of the population in the Middle East is under the age of 25, and 35% under the age of 18, according to a report by Deloitte. These younger demographics have higher disposable incomes and as the new, aspiring middle-class, are more likely to spend more on luxury items. This generation of wealthy, young shoppers is flourishing – putting luxury brands in an exciting position. Key driver #4: Saudi Arabia is growing We’ve seen the luxury retail industry gain strength after the COVID-19 crisis and become a more dynamic industry within the Middle East in particular. Historically, Dubai was always the focus for a new store opening or brand expansion, but in 2021 there was an astonishing increase in activity in Saudi Arabia. The Kingdom’s luxury market continues to grow rapidly, with a forecast suggesting luxury sales could reach $22.4 billion by 2025. #luxury #luxuryretail #growth #vision #luxuryfuture #Gccgrowth

Market for luxury brands in Africa showing surprising resilience Continent defies expectations, given that the luxury market is under pressure in certain other regions of the world, most notably China. Luxity Michael Zahariev #Africa #luxurygoods #luxurybrands #luxurymarketing #luxury #shopping

CBRE published its Luxury Retail Australia report, highlighting the market's robust recovery in international tourism and increasingly #affluent population with an appetite for #luxury. ❇️ Australia’s high net inflows of High-Net-Worth Individual (HNWI) migrants and increasing discretionary spending have made luxury goods more accessible to a broader demographic. ❇️ The recovery rate of international passenger arrivals and expenditure from international tourists presents a significant opportunity for luxury retailers and landlords. ❇️ In #Australia, luxury retail trade reached a record $6.2bn in 2023. ❇️ The luxury market is witnessing a consumer shift, with the rise of Millennials and Gen Z generations, with the prevalence of #socialmedia heavily driving their appetite for luxury goods. ❇️ The top three luxury brands in Australia, namely, #LouisVuitton, #Richemont and #Hermes, have achieved revenue growth of 87%, 153% and 177%, respectively, since 2019. ❇️ The luxury clothing and footwear market generated $4.3bn (69%) of total revenue in 2024, while the jewellery and watch market followed recording a total revenue of $1.5bn (25%). ❇️ Sydney and Melbourne’s international airports have a strong luxury presence, however, other Australian airports including Brisbane and Perth, could follow suit, capitalising on their growing international traffic. https://lnkd.in/dhjwmHkJ

#MARKETS Driven by booming economies and a young, affluent population, the Middle East, especially the UAE, has emerged as a leading market for luxury. Research indicates that the region's luxury market will reach $60 billion by 2030. With the number of High Net Worth Individuals expected to increase by 40% by 2025, there is a growing pool of potential luxury consumers in the region. #ALBA #AdriaticLuxuryBusinessAssociation #adriaticluxury

Spent Monday listening to some of the most powerful players in luxury at Walpole’s British Luxury Summit at The Londoner Hotel. 40% of the world population is eligible to go to the polls this year, yet despite all the uncertainty, 2023 was a record year for luxury markets. Since 2019 the luxury market grew from $1.3 trillion to $1.5 trillion. British luxury is worth £81bn to the UK economy. Here’s a few fast facts to help draw luxury strategy. By 2030: - U.S. & China will make up 60% of luxury buying power - Gen Z will make up 25-30% - Millenials will make up 50-55% Currently: - There’s a dual engine of luxury spending between US and China, US leading. - Guilt spending was replaced by YOLO/FOMO attitudes to spend - Consumption relies on the psychology of projecting confidence and trust (currently broken) - Sustainability today is a given, biodiversity is now paramount - New age travelers seek to learn; they want to connect and embrace the authentic cultures - Luxury travel is defined by time; freedom to exist To stay relevant, brands will have to focus on consolidation, creativity, customer loyalty and convergence across other industries. Thank you Helen Brocklebank & the entire Walpole team for such an insightful day of connection. #WalpoleSummit

The demand for branded residences in Dubai is witnessing an unprecedented surge, with prices projected to rise by 10-20% from the current average of $1,769 (AED 6,500) per square foot. Ultra-high-net-worth individuals (UHNWIs) from India, Europe, Russia, China and the US are flocking to Dubai for its ultra-prime properties that blend exclusivity with a luxury lifestyle.   As Sankey Prasad FRICS, Chairman & MD – Middle East and India, highlights: "Dubai’s appeal lies in its ability to seamlessly merge opulence with practicality, redefining luxury living for the global elite."   Curious about the factors driving this transformation? Read the full article: https://lnkd.in/g-9NZNC8     Know more about Sankey's expertise here - https://lnkd.in/gajuju37     #ColliersProjectLeaders #MiddleEast #Dubai #RealEstate #BrandedResidences #LuxuryLiving #GlobalInvestors #IndustryInsights

Reflecting on TimesLIVE's summary of the 2024 findings from Luxity and the Clur International (Pty) Ltd Shopping Centre Index, it’s inspiring to see how South Africa has consistently upheld its position as the leader in Africa’s luxury market growth throughout 2024. This is an encouraging sign for both local and global players in the luxury industry! What remains to be seen, however, is how the luxury market will evolve in 2025 and beyond. With a shifting international socio-political landscape on the horizon, it’s hard not to feel a sense of optimism for the future of luxury on local soil. The potential for local luxury brands to thrive is immense, and established global brands continue to hold strong as coveted commodities. The opportunities are endless - if we’re bold enough to seize them. What’s your perspective? What’s your gut feel for the luxury market in 2025 and beyond? Share your thoughts below! For more insights, read here: https://ow.ly/B17e50Usne6 #AfricanLuxury #SouthAfrica #LuxuryMarket #Innovation #MarketTrends

Sri Lanka, known for its rich cultural heritage and breathtaking landscapes, is emerging as a key player in the global luxury market. Over the past few years, the island nation has seen a noticeable rise in demand for luxury brands, driven by both local affluence and an influx of international tourists. From high-end fashion and accessories to luxury automobiles and real estate, Sri Lanka is witnessing a shift in consumer behavior as discerning buyers increasingly seek premium quality and exclusivity. In this series of articles, we will explore the growing presence of luxury brands in Sri Lanka, examining the trends that are shaping this dynamic market. We will also delve into the evolving consumer preferences, uncovering what motivates Sri Lankan shoppers to invest in luxury goods and how global and local brands are adapting to meet these demands. Understanding these trends provides valuable insights into the future of luxury in Sri Lanka and the opportunities that lie ahead for both businesses and consumers alike. #luxurybranding #brandpositioning #luxurybranding

For Gulf nationals, luxury shopping is a key aspect of global travel, blending the pursuit of high-end goods with cultural exploration. From Paris to New York, exclusive shopping experiences cater to their refined tastes, offering bespoke services, ethical luxury, and unique brand events. Essentials of Global Luxury Shopping: - Fashion Capitals: Access to flagship stores in the world's fashion hubs provides Gulf nationals with the latest in luxury and haute couture, along with personalized services. - Ethical and Cultural Luxury: Interest in brands that combine luxury with ethical production and cultural significance is on the rise, reflecting a conscientious approach to consumption. - Exclusive Brand Events: Shopping is elevated through invitations to fashion shows and private viewings, offering an insider's look into the luxury fashion world. Facilitating Luxury Journeys: Travel services and digital platforms enhance these shopping experiences, providing seamless travel arrangements and virtual shopping opportunities to ensure continuous engagement with luxury brands. For Gulf nationals, luxury shopping abroad is not just about acquisitions; it's a celebration of global lifestyle and cultural affinity, where each purchase is part of a broader narrative of exploration and sophistication. #LuxuryLifestyle #GlobalShopping #FashionForward