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Africa, the next China?

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Apparel Online India August, 1-15, 2015

Luxury brands Eye Africa

During the 80s, China was in the midst of economic reforms that helped it to become the world’s largest economy today. Tapping on this change, international retailers, especially the luxury brands have capitalized on the ever-growing consumer class in the country. But while retailers are exploring more opportunities to grow sales in China, nonetheless they are already looking for the next China. The region most likely to fill that role is Africa – Sub-Saharan Africa to be exact, according to a new report by A.T. Kearney, a global strategy and management consulting firm.  Comparing, Sub-Saharan Africa to China in 1987, a report by A.T. Kearney states that the region will be the big story in retail by 2040. “It’s going…

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Source: Apparel Online India August, 1-15, 2015
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