It has been said several times that Africa is the next luxury market. but there is often a lot of talk and less action by several companies. Then we have those walking the talk, like Remy Cointreau who have now established Louis XIII in Nigeria and South Africa. That bottle is a divine beauty.
According to Antoinette Drumm, the Remy Cointreau Zone Director for Africa, Mediterranean & Middle East, “We have extremely high expectations not just of South Africa but of Africa as a whole has the potential for sales growth in Africa is incredible. With a population of over 1 billion, increased consumer spending, urbanization, accessible consumers and the explosion of digital communication that allows us to connect and interact like never before, there is no doubt that Africa offers great opportunities.”
With an estimated worth of $4 billion, the African luxury market has potential to grow through foreign luxury companies and African owned luxury companies operating in key markets and using localized methods, where necessary as each African country is very different.
“Louis XIII is not just a cognac; it is the master piece of time; it is a blend of up to 1,200 eaux-de-vie, the youngest of which is at least 40 years old. Four generations of cellar masters have spent decades refining it”, Drumm further added.
Made from only the choicest grapes grown in the renowned Grande Champagne area in Cognac, France Louis XIII is blended from only the best eaux-de-vie (water of life) that’s been matured in French oak barrels for years. Putting the final seal on this incredible cognac is the fact that it’s decanted into handmade by the finest crystal makers with a gold neck, making it not only an exquisite cognac but a collector’s item as well. The number of decanters made per year is a closely guarded secret but what is certain is that Louis XIII is rare.
United Kingdom-based (UK) consultancy New World Wealth has ranked African cities based on their number of dollar millionaires (individuals with net assets exceeding US$1 million, excluding primary residences) and the results are promising: Johannesburg, South Africa had 23,400 dollar millionaires at the end of 2012 while Cairo, Egypt registered 12,300 followed by Lagos, Nigeria with 9,800.
It has been stated by The New World Wealth that there are at least 140, 000 millionaires in Africa out of which 49,000 live in South Africa and these numbers are expected to increase significantly over the next 20 years. It is quite obvious that this the known number but there is a huge number that has not been identified. This means that there is massive potential for luxury goods and services in markets which we rarely mention such as South Sudan, Zambia, Congo Brazzaville, and many others in this huge African continent.
But for now, let us go on appreciating this well groomed, sophisticated, elegant drink in its beautiful, well carved, well designed and makes you want to enter the bottle to be united with it and the drink.