This year Fenty’s plan is going to launch in Africa, and it is sensed as a reaction to the development of the continent’s beauty and personal care industry which is now worth more than $12 billion.
As per the latest market figures, it may reach $14 billion this year, oiled by a steady climb in disposable incomes among the continent’s middle class.
According to the Brookings Institute, growing incomes voluntarily will direct to higher demand for higher quality, niche, and foreign-produced goods.
“Africa’s emerging economies present exciting options to global businesses for growth in retail and distribution,” reads its analysis.
Africa’s billion dollar beauty market has attracted global brands.
It will change the demographics and improve business environments in the country, and it has just two factors contributing to rising household consumption, which is predicted to reach $2.5 trillion by 2030.
It further states that seven countries – Nigeria, Ethiopia, the Democratic Republic of Congo, Egypt, Tanzania, Kenya, and South Africa — carry 50 percent of the continent population, and 43 percent of Africans across the continent will belong to the middle or upper classes.
According to the World Bank, Africa’s youth folk make it an attractive region for manufacturers, brands, and retailers.
Fenty’s Africa launch is highly expected.
In her one release on Tuesday, May 10, the Fenty declared its African takeoff was a “natural next step” in growing its Beauty for All’ notion.
Rihanna states: “I am a proud Bajan who feels a close connection to Africa and its people.”
“I have had the satisfaction and the right to spend time on the continent, and those experiences will never leave you. Getting Fenty Beauty and Fenty Skin to eight African countries and hopefully more in the future means so much to me.”
Fenty is going to launch in Nigeria, South Africa, Ghana, Botswana, Kenya, Zimbabwe, Namibia, and Zambia on May 27.
Fenty is perhaps the biggest and most publicised cosmetic brand in Africa, where other multinational brands are already investing in the region.
Both BASF, one of the largest chemical producers in the world, and Symrise, a major producer of active cosmetic ingredients and raw materials, opened R&D facilities in Nigeria, concentrating on tailormade formulas exact to the needs of regional consumers in that market.
Rihanna’s brand might therefore unlock more investments into Africa’s beauty industry.
The original version of this story was republished with the permission of bird, a story agency under Africa No Filter.