This summer, Adidas opened a 3,000-square-foot flagship store in Lekki, Lagos, with a bang. The event featured live music, a firework display and work by Nigerian artist Osoranna Mojekwu. Attendees included the deputy governor of Lagos State, Dr. Kadri Obafemi Hamzat, as well as Nigerian influencers and musicians such as Ladipo Eso.
For Adidas, it was a statement of intent — signaling the growing opportunity for international brands in Nigeria’s largest city. In recent years, the popularity of events such as Lagos Fashion Week and Art X Lagos have thrust the city into the international spotlight, while drawing in a mix of emerging and established players.
However, the road to Lagos is a complex one that requires significant infrastructure changes, as well as for current policies, legislation and taxes to be re-evaluated in order to entice global players to the market. Nigeria’s economy has fluctuated over the past 10 to 15 years, and there are several socioeconomic challenges facing the country, including rising inflation, political hurdles and power shortages.
That said, the economy grew nearly 4% in the third quarter of 2025 (the latest quarter for which results are available), and Nigeria is currently Africa’s fourth wealthiest market behind South Africa, Egypt and Morocco, according to consulting platform Henley Partners. The country is home to approximately 7,200 millionaires, 20 centi-millionaires and three billionaires (in USD).
“Nigerians are very fervent [shoppers],” says John Obayuwana, founder and managing director of multi-brand group Polo Luxury, which owns two high-end fashion and jewelry boutiques in Lagos. The company has brought several international brands, including Chopard, Rolex and Dolce Gabbana, to Lagos through wholesale partnerships.
When Obayuwana founded the business in 1987, he was selling high jewelry and watches to Nigeria’s elites, including politicians, royalty from neighboring African countries, and business leaders. In 2015, Polo Luxury expanded into fashion. “We know there is an appetite for [luxury brands],” he says. “Nigerians shop abroad. We’ve seen them in Selfridges, Harrods, Dubai malls and elsewhere. Nigerians are [spending].”
In 2024, jewelry brand Swarovski unveiled its store inside The Palms shopping mall, a leading retail destination, in Lagos. That same year, Amsterdam-based streetwear brand Patta unveiled its first outpost in the city. In 2021, Richemont-owned Montblanc also opened a store in The Palms. Others have held buzzy pop-ups and marketing activations, including London-based brand Kai Collective, which hosted a pop-up at luxury fashion retailer Alara.
Locals welcomed their arrival. “Nigerians are very savvy when it comes to fashion,” says Maimuna Animashaun, a Lagos-based fashion retail partner and distributor, noting that a growing pool of Nigerian shoppers have a preference for accessible luxury brands. “If you’re offering the latest collection, and it’s good quality and affordable, there’s a lot of opportunity to thrive here.”
She adds that there is a range of social classes and income brackets for brands to tap into, particularly on Lagos Island, a key business and financial hub, where consumers are well-traveled and more exposed to international luxury. (Lagos is thought to be the biggest city in Africa, with a population of approximately 17 to 21 million, though official government data has not been released.)
The lowdown
While there’s an obvious appetite for international brands, particularly mid-tier or accessible players, the city’s lack of infrastructure continues to constrict the market’s potential.
International brands from Zegna to Nike were among the early movers into Lagos, opening stores in areas they believed had the potential to become a budding high street, typically near busy office areas or supermarkets — but their time there was short lived. In Lagos, it’s rare to find a high street populated with retail stores, restaurants, cafés and supermarkets on the same road, notes Yakubu Gobir, founder of Smart Mark, one of the largest fashion retailers and brand franchise operators in West Africa, which has helped over 20 international brands enter the sub-region (its clients include Levi’s and PVH’s Tommy Hilfiger and Calvin Klein). “The challenge with high street locations is that you need to generate your own footfall and it takes time. It takes time to build a clientele base for you to be able to run a standalone [store] and command enough foot traffic to make that location profitable,” he explains.
In the mid to late 2000s, major investment began to pour into Lagos, fueling plans to transform the city and attract foreign players to the region, including through new shopping malls. “There was a time when Nigeria was seen as the darling of Africa,” recalls Gobir. Many were watching closely, as it signaled that the country’s middle class was growing and spending power was increasing.
Shopping malls began to appear around Lagos in hotspot locations, including Lekki, Ikeja and Victoria Island. Over the years, these have attracted more and more international names. The Palms in Lekki, for example, is home to brands such as Montblanc, Boss, Lacoste and Puma; the Ikeja shopping mall carries brands like Tommy Hilfiger, Nike and Mango.
“When the malls started [it was] very exciting for the whole market,” says Ayo Amusan, founder and chief executive of Persianas Retail Limited, a leading retailer in Nigeria that owns six-plus malls in the country. “Over the last 20 years, it’s had its ups and downs.” That includes road works impacting footfall, Covid, a recession and foreign exchange fluctuations. (In the summer of 2016, Nigeria’s economy slipped into recession, putting a number of retail projects on hold. Shortly after the country began to emerge from the economic downturn, the Covid pandemic hit and the country went into lockdown.)
Today, the future of the malls looks more promising, says Amusan. New development projects are underway including a new 12,000-seater arena near The Palms shopping mall, which will increase foot traffic and generate new excitement in the area.
“We are not a high street market,” says Amusan. “The Lagosians are definitely much more destination shoppers and that’s why the malls work.” She adds that the controlled space, security, curated retail, entertainment and hospitality ecosystem, and parking, is attractive to local consumers.
Another barrier for international brands in Lagos is the high import charges and tariffs. Importing goods such as fashion is highly discouraged in Nigeria, as the country wants to boost local manufacturing and the production of raw materials, in a bid to increase export levels and generate foreign exchange. As a result, it has historically been very difficult for local consumers to get their hands on international luxury goods.
“Previously, to have access to luxury goods, you would get people who were traveling, buying it and coming [back to Lagos] to sell it at a premium,” says Reni Folawiyo, founder of luxury boutique Alara, which stocks a mix of local and international brands such as Cult Gaia, Neous and Christian Louboutin. She explains that this has led some customers to believe that if they were to purchase an item from a luxury brand store in Lagos, it would automatically be more expensive. “People don’t realize that it’s possible for someone to have these relationships with the brands that enable them to have similar prices to what they’re selling anywhere else.”
“If those factors can be clarified and made easier, then you can begin to attract the bigger brands,” says Obayuwana, adding that government-led initiatives and policies will be the true determiner of whether luxury brands can easily enter the market and set up shop in the country.
The customer
Experts say brands often misunderstand the wants, needs and desires of Nigerian consumers when entering the market, with many believing that consumers are disinterested in international brands.
The opposite is true, says Munira Isabelle Gobir, a fashion retail consultant based in Lagos. “Fashion is an identity market, and they take this very seriously,” she says. “Image and status mean a lot to the Nigerian consumer.” The concept of quiet luxury doesn’t really apply here, Gobir adds. “Nigerian consumers love recognizable luxury that photographs well.” She notes that certain categories from well-known international brands tend to perform well in the market, such as designer bags, premium footwear and statement womenswear pieces.
Folawiyo has observed a similar trend: “[When it comes to] ready-to-wear, most people are buying local, and they’re wearing international accessories.” (On the local front, Nigerian brands such as Kilentar, Iamisigo and Dye Lab have found success in the market by offering an interesting spin on traditional African craft and dyeing techniques, something many local consumers still value. Whether it’s traditional tie-dye or a hand-beaded top, the preservation of culture and craftsmanship through fashion is still a priority for consumers.)
Quiet luxury aside, the products and brands that are trending in the West are also likely to be trending in Nigeria. That’s largely thanks to Nigeria’s young and social media-savvy population, with some 70% under 30 years old. “Nigerians are very trend-responsive,” says Gobir. “We’re in the top five countries that consume social media the most globally, so this influences a lot in the lives of Nigerians. Our consumers are definitely swayed by influencers on TikTok and Instagram before they buy.” Social platforms such as WhatsApp and Instagram have also become important communication and sales channels for brands to engage directly with consumers.
While shoppers are eager to purchase international luxury brands, the current state of the economy has forced consumers across all class distinctions to tighten their belts. “[Consumers are] now more attentive to how they spend,” Gobir continues. “They’ll pay a premium price, but expect a premium service.” According to Euromonitor senior consultant Rubab Abdoolla, “the upper income base was less affected by inflationary conditions and continued to buy premium apparel and footwear”, in 2024, despite poor economic conditions in the country.
City quirks
Expect some seasons to be busier than others, particularly from the end of October through January, when foot traffic is high thanks to events such as Lagos Fashion Week, Art X Lagos, film week, as well as Detty December, Christmas and New Year’s celebrations.
The festive season holds several opportunities for international brands thanks to a surge in tourism, but a sizable financial return is not guaranteed. “Most of the big international [fashion] brands that have done things here in Lagos are usually not doing it for purely financial reasons,” says Eniafe Momodu, founder of Prism Creative, a Lagos-based research and production house. “There’s financial value, and there’s cultural value… The brands that activate here [in Lagos], that show up here and shoot campaigns, are doing it because they believe in the cultural value.” Over time, these marketing activations could translate into financial value as they boost the overall perception of a brand in Nigeria.
He adds, “The biggest thing that would attract an international fashion brand to a city like Lagos is our cultural prowess. Brands recognise that there’s a pulse here. Between Afrobeat, fashion, film — there’s an energy here.”
That energy is where brands should focus their attention when entering the Nigerian market, experts agree. There’s also an opportunity to tap into the country’s budding creative economy to build cultural relevance. “Lagos is the fashion capital. It’s shaped by music, sports, nightlife, etc,” says Amusan, adding that brands can work with local talent — musicians, actors, celebrities — to improve storytelling in the market. “Community is everything in Lagos, people want to feel connected to a brand... I understand how important it is for talent to unlock an audience [in Nigeria].”
Folawiyo has evolved Alara’s business model to adapt to the quieter periods. “We have a restaurant, we have an event section, we do art events — we’re big on culture and the community — and then we also do retail,” she says. “It’s a way of dealing with when traffic is low… When it’s quiet in Alara [retail store], Nok [the restaurant] is super busy. There’s always something to do, and there’s always different ways to bring in revenue.”
Place your bets
For Lagos’s retail market to reach a level that can compete with other emerging markets, local governments must recognize the value of creating a budding retail and hospitality sector — one that entices international parties to the city and encourages local entrepreneurs to invest in the market. “Good infrastructure is designed. It doesn’t just come out of nowhere… Government policies will determine much of this,” says Obayuwana. “These places can add massive value to the economy of Lagos state.”
Over time, as more brands expand their retail footprints to Lagos, experts predict that consumers will be increasingly open to shopping for luxury goods locally without fear of inflated prices. There’s also an opportunity for brands to bring region-specific items that incentivize people to shop at local stores across the city.
In the next 10 to 20 years, some predict that the Nigerian city will graduate from an emerging market to a must-have market. “The combination of wealthy consumers, global cultural influence and underserved demand creates sustained value,” says Gobir, predicting that Lagos could reach the level of South Africa’s Johannesburg or Cape Town, which are home to various international luxury stores, including Louis Vuitton and Gucci.
“As the economy recovers, population growth — notably among young people — urbanization, and rising incomes are expected to drive sales as more consumers can afford new apparel and footwear,” predicts Euromonitor’s Abdoolla. “Premium apparel and footwear, in particular, is expected to grow quite well as the consumer base of middle and upper-income consumers find luxury apparel and footwear to be important for maintaining a positive appearance and stylish image.”
The consensus is to get in early and test the market by hosting fun marketing activations and short-term pop-ups, so that when the market hits its peak, consumers are already aware and eager to shop.
