De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Nigeria
Global Markets
Africa’s Answer to Amazon on Balancing Speed with Discipline
Jumia has seized the e-commerce opportunity in dynamic markets from Nigeria to Egypt, though it didn’t see the growth rates analysts expected during the pandemic. Next year, the e-tailer will be even more disciplined about its path to profitability, says chairperson Juliet Anammah.
Africa’s Answer to Amazon on Balancing Speed with Discipline
Jumia has seized the e-commerce opportunity in dynamic markets from Nigeria to Egypt, though it didn’t see the growth rates analysts expected during the pandemic. Next year, the e-tailer will be even more disciplined about its path to profitability, says chairperson Juliet Anammah.
News & Analysis
Mastercard to Invest in Africa Online Retailer Jumia
The US credit card giant joins shareholders such as French drinks maker Pernod Ricard, MTN Group and Rocket Internet.
Mastercard to Invest in Africa Online Retailer Jumia
The US credit card giant joins shareholders such as French drinks maker Pernod Ricard, MTN Group and Rocket Internet.
Financial Markets
African E-Commerce Firm Jumia Files for IPO
The New York filing could value the company at $1.6 billion or more.
African E-Commerce Firm Jumia Files for IPO
The New York filing could value the company at $1.6 billion or more.
Technology
Orange to Invest in Nigerian E-Commerce Group Africa Internet
French telecommunications company Orange is to invest 75 million euro ($85 million) in Nigerian e-commerce group Africa Internet Group and become a shareholder, the two companies said on Tuesday.
Orange to Invest in Nigerian E-Commerce Group Africa Internet
French telecommunications company Orange is to invest 75 million euro ($85 million) in Nigerian e-commerce group Africa Internet Group and become a shareholder, the two companies said on Tuesday.
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News & Analysis
Nigeria’s Fashionistas Upset by Falling Oil Prices
"The drop in world oil prices is hitting the fashion-conscious women of Kano hard. The city in Nigeria's far north is a long way from the oilfields
Nigeria’s Fashionistas Upset by Falling Oil Prices
"The drop in world oil prices is hitting the fashion-conscious women of Kano hard. The city in Nigeria's far north is a long way from the oilfields
Technology
Rocket Internet's Jumia Goes Deeper into Africa
Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets: Uganda, Ghana and Cameroon.
Rocket Internet's Jumia Goes Deeper into Africa
Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets: Uganda, Ghana and Cameroon.
News & Analysis
Nigeria Surpasses South Africa as Continent's Biggest Economy
ABUJA, Nigeria — Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation nearly doubled its gross domestic
Nigeria Surpasses South Africa as Continent's Biggest Economy
ABUJA, Nigeria — Nigeria has overtaken South Africa as Africa's largest economy after a rebasing calculation nearly doubled its gross domestic
News & Analysis
Rocket Internet’s E-commerce Startup Jumia Raises $35M as its Passes 500,000 Customers in Nigeria
"Jumia, the leading online retailer in Nigeria, has raised $35 million in fresh funding from Millicom to expand in its domestic market and move into
Rocket Internet’s E-commerce Startup Jumia Raises $35M as its Passes 500,000 Customers in Nigeria
"Jumia, the leading online retailer in Nigeria, has raised $35 million in fresh funding from Millicom to expand in its domestic market and move into
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Global Markets
Nigeria: Taking Africa's Giant Seriously
In a new series, Market GPS, BoF looks beyond the BRICs to the next tier of emerging market opportunities. First up, we examine Africa's giant, Nigeria.
Nigeria: Taking Africa's Giant Seriously
In a new series, Market GPS, BoF looks beyond the BRICs to the next tier of emerging market opportunities. First up, we examine Africa's giant, Nigeria.
News & Analysis
Estee Lauder M.A.C. Driving Sales From Nigeria to Brazil
"When Estee Lauder Cos. opened a store selling M.A.C. makeup in Lagos, Nigeria, this month, it didn’t have much company. Going where rivals aren’t is
Estee Lauder M.A.C. Driving Sales From Nigeria to Brazil
"When Estee Lauder Cos. opened a store selling M.A.C. makeup in Lagos, Nigeria, this month, it didn’t have much company. Going where rivals aren’t is
News & Analysis
Week in Review | Against Fast Fashion Collaborations, Joe Fresh's approach, Leutton Postle
Op-Ed | Making The Case Against Fast Fashion Collaborations (Opinion) "These underlying commercial motives are often obscured, however, by a
Week in Review | Against Fast Fashion Collaborations, Joe Fresh's approach, Leutton Postle
Op-Ed | Making The Case Against Fast Fashion Collaborations (Opinion) "These underlying commercial motives are often obscured, however, by a
News & Analysis
Retail theatre, Nigerian lace, Hilfiger eyes Michael Kors investment, Ferragamo IPO, Giles' playful disposition
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Retail theatre, Nigerian lace, Hilfiger eyes Michael Kors investment, Ferragamo IPO, Giles' playful disposition
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The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.