Today companies don’t only set their sights on conquering their own market, they look to expand and gain new customers by looking at global markets that can they also potentially be successful in. Recently, online retailer, Beautifully Undressed held a dazzling star-studded event to launch their premier online shopping destination to the Nigerian market. It was an interesting and strategic move by the retailer as they already are successful in the European and US market. The West African country is also a growing market where many brands are already taking advantage of the nation’s growing consumer market. It only makes sense that the fashion world begin to explore their prospects in the country and lingerie brands may find a new comfortable home in this new uncharted territory.
Back in October, Nigeria held its own fashion week in Lagos that attracted droves of European buyers spanning from the UK to Germany all interested in seeing how Nigerians define fashion and more importantly finding a place for their brands in the market. Rather than attracting European customers, retailers are more interested in targeting the affluent Nigerians who spend time abroad shopping as they are the highest-spending foreign customers. It’s no wonder why brands are scoping the market looking for opportunity (who also hosts their own premier fashion week). You also have other countries like Ghana also attracting attention from the West as a growing market for European and US companies to enter. It is important for these brands to continuously expand especially with so many countries in West battling an economic recession. It seems like if a brand is expected to have longevity in the fashion world, they have to seek out new markets and the expand their global reach and fan base.
We wonder what other brands will follow Beautifully Undressed lead and take advantage of these emerging markets.
Until the next time,
xoxo The Vixen
