Saturday, May 11, 2013

Tom Ford to open store in Nigeria

You wouldn’t know it if you watch (or don’t watch) the news, but Africa’s economy is growing at an astounding rate, and brands are starting to take notice. MAC Cosmetics has its eye on the continent’s fastest-growing economies, and has even begun to expand their already-extensive foundation shades to accommodate all the beautiful tones of black skin. And just as Africa is not a monolith, neither are the makeup trends amongst the women who live there: according to Karen Buglisi, global brand president of MAC, in Nigeria, “They want trend,
they want fashion, they want luxury,” for example. Zambian and Botswanan women prefer a more conservative look. The African middle class, particularly in Nigeria, is on the rise and beauty brands are looking to tap into those burgeoning markets. Estée Lauder reports that Tom Ford fragrances, and MAC are their bestselling brands on the continent, despite their high price points.L’Oreal is also looking to African expansion, but they admit that it’s going to take some time. “It’s going to be a slow game. I don’t think it’s going to be an overnight success,” Geoff Skingsley, executive vice president at L’Oreal told WWD. “The majority of these markets are economically stable and have a lot of natural wealth and they also have a stronger middle class than they had a generation ago. The whole continent is interesting. Right now, it’s very uneven. But if you pick the right spots, they have a lot of potential.” How wonderful that these companies are beginning to realize that black women exist, have money, and are willing to spend it on looking good! 

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