There are not only the BRIC countries in life: Angola, Kazakhstan or even Azerbaijan are the new places to settle in for luxury empires.
Theses territories are in a big mutation, rhyming oil and diamonds, it-bags and super malls, ore and couture dresses.
Luanda in Angola, Bakou in Azerbaijan, Lagos in Nigeria are the new cities where luxury houses want to go.
We can wonder why those countries are the places to be and the answer is quite simple. Yesterday they were very poor countries and today they are emerging.
Worldwide luxury groups are constantly watching at new markets. The first manner to see if a country is ready to receive the luxury industry is to watch the Bloomberg screens: exchange rates of oil, gas, diamonds, gold or agricultural foodstuffs and even the square meter price. All these elements can create fortunes in a record time.
Either way, the point is: it is better to have disparities than an equal wealth repartition.
The luxury industry is very successful in this type of country because it is a wealth indicator and it show to others that you succeed in social elevation.
The first clientele are business travellers; luxury houses do not need a large local clientele for product with a very high added value.
With the development of those new luxury markets, emerging countries are growing faster. There is a huge and very fast urbanization with the construction of big malls, five stars hotels, restaurants…
In the next decade, these cities will become the new Shanghai, Singapore and Dubai.