A producer country that wants more weight at the world's largest diamond company, a city giving its designers a shopfront, stylists sending pre-owned luxury pieces down the runway: this week, African luxury sought to keep more of the value it creates.
Botswana wants to double its stake in De Beers
On 9 November, in his State of the Nation address, President Duma Boko announced that Botswana would raise its stake in De Beers from 15% to 30% once the sale closes, making it the diamond company's largest single shareholder. The country backs the Global Diamond Consortium, led by former De Beers chief executive Gareth Penny, to buy Anglo American's 85% stake, at a reported price of around $1 billion. Namibia and Angola would also take part in the deal.
The agreement is not yet final. But for jewellery, the signal is clear: producer countries intend to shape the stone's strategy, from mine to shop window.
AP: Botswana to raise its stake to 30% · CNBC Africa: the president's position · JCK: the announcement and the consortium
Nairobi: The One Three Six, a new home for African designers
In Nairobi, The One Three Six has opened on Riverside Drive. This women-led retail venue brings together independent Kenyan and African labels, and presents itself as a place to shop as much as to invest in local design.
For the continent's designers, polished physical venues like this are the showcase they often lacked between the workshop and international department stores.
allAfrica: a new home for African fashion · Capital FM: introducing the venue
South Africa: pre-owned luxury takes to the runway
At South African Fashion Week, designer Craig Jacobs styled his Fundudzi collection with pre-owned designer shoes supplied by reseller Luxity. In Cape Town, Fame Week Africa's Tastes + Threads show also featured pre-loved luxury handbags and sunglasses.
Luxury resale is no longer hidden: it is now part of how collections are staged.
Bizcommunity: pre-loved luxury in the spotlight
Our take
Mining capital, designer boutiques, the resale market: the value of African luxury is increasingly decided on the continent. For international brands, understanding these new channels before setting up is essential, and a pop-up store remains the most direct way to test them. Let's talk about your project.