Setting Up Shop in Lagos

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.