Africa’s dry hair market (including wigs, weaves, and extensions) generates an estimated $6 billion annually. Just in South Africa alone, the market has grown to $100 million annually, which is five times more than its worth in 2005. Liquid hair products such as shampoos and relaxers garnered an annual $1.1 billion in South Africa, Nigeria, and Cameroon alone in 2013, Reuters reports.
Several non-African companies, including L’Oreal, are profiting off African women’s desire to spend big bucks on hair styling. The French product distributor has a majorly successful site in South Africa, and the company credits this to African women’s daring mane choices.
“African women are probably the most daring when it comes to hair styles,” said Bertrand de Laleu, managing director of L’Oreal South Africa, adding that just a few decades ago, dry hair was not as advanced as it is now. “Suddenly you can play with new tools that didn’t exist or were unaffordable.”
Read the full article at UPTOWN.