Luxury watches draw Africa’s spenders to SA

Business Day Live | Zeenat Moorad:

 

SA’s emergence as Africa’s luxury hub has seen the continent’s big spenders splash out on “super-luxury” watches.

Well-heeled politicians, oil and gas millionaires and other beneficiaries of the continent’s economic boom are giving rise to a “bling-fuelled” consumer culture with expensive taste.

Picture: Thinkstock

On Friday, research consultancy New World Wealth estimated that about R320m worth of sales from “super-luxury” watches were generated in SA last year, up from R230m in 2013…

 

Read full article via source: http://www.bdlive.co.za/business/retail/2015/02/02/luxury-watches-draw-africas-spenders-to-sa

2018-10-23T17:39:49+00:00