Dear all,

Please I would like to know how profitable the luxury fashion retail business is in Nigeria, especially in Lagos and Abuja.

I have been to some malls around Lagos and the only luxury brands I found are Ermenegildo Zegna and Hugo Boss and Polo at Palms Mall lekki. I haven't seen brands like Gucci, Versaci, LV, Armani.

Though I found some stores selling different high end designer products, I am not sure how genuine these products are since its not a branded store.

I'm thinking of going into the business but need to be sure if Nigerians really buy expensive things here in Nigeria or prefer to shop abroad. I know most Nigerians like to take vacations abroad and shop abroad.

Has anybody been to Zegna, Polo or Hugo Boss? what do you guys think about these stores and do think their prices are ok for people to afford. I understand they are luxury brands but then I feel people still complain about prices. Just need peoples opinions and ideas,,thanks.

the prices are ok. thats why they are luxury brands. I mean even abroad you cant compare these brands to marks and spencer et al. ive shopped at Boss, but not been to zenga and polo. if you are looking at bringing a brand do one that nigerians know. if you can do Balmain or giuseppe zanotti or probably LV you will make your money especially if they know if it is original because you will be surprised how much the best imitations go for in Lagos.get a good business developer with track record and also bond with top stylists in town.

jeyselassie:
the prices are ok. thats why they are luxury brands. I mean even abroad you cant compare these brands to marks and spencer et al. ive shopped at Boss, but not been to zenga and polo. if you are looking at bringing a brand do one that nigerians know. if you can do Balmain or giuseppe zanotti or probably LV you will make your money especially if they know if it is original because you will be surprised how much the best imitations go for in Lagos.get a good business developer with track record and also bond with top stylists in town.

Thanks so much.