Latest news with #MichaelZahariev
The Citizen
24-05-2025
- The Citizen
More than R20 million of fake LV goods and others seized in Joburg
Police seized more than 24 000 counterfeit items, including branded clothing, footwear, handbags, perfumes, jewellery and cellphone accessories. The South African Police Service (Saps) in Gauteng has seized counterfeit goods worth more than R20 million during a multidisciplinary takedown operation in Bruma, east of Johannesburg. Police spokesperson Lieutenant Colonel Amanda van Wyk said they had arrested 35 individuals for the goods. One suspect was arrested for contravening the Counterfeit Goods Act while 34 foreign nationals were arrested for contravening the Immigration Act. How many goods were seized? She said they were able to seize more than 24 000 counterfeit items, including branded clothing, footwear, handbags, perfumes, jewellery and cellphone accessories. 'Acting on intelligence gathered, the team executed search and seizure warrants in accordance with the Customs and Excise Act and the Counterfeit Goods Act,' she said. 'The SAPS remains relentless in its efforts to dismantle the illegal trade in counterfeit and illicit goods in order to protect consumers against harmful products, support legitimate businesses and uphold the integrity of South Africa's economy.' Counterfeit bags found at the stores. Picture: Supplied How to tell real from fake goods? Michael Zahariev from Luxity, South Africa's pre-owned luxury reseller and authenticator said people have started to believe every single luxury brand is made in China, which is not true. 'In reality, each Birkin bag is meticulously handcrafted in France by a single artisan who undergoes years of specialised training. Hermès maintains strict control over its production processes to uphold exceptional quality standards.' Tens of content creators previously claimed that Louis Vuitton, Gucci, Hermes, Karl Lagerfeld and others are manufactured in China and are shipped off to France and Europe to get branded, then sold to the rest of the world at a higher price. Picture: Supplied Luxury brands document the process Zahariev added that claims that luxury brands are primarily manufactured in China are not true, because companies such as Hermès have a well-documented commitment to local production. 'Hermès operates numerous production sites across France, where the majority of its products are crafted. 'While some components or products may be sourced or manufactured in other countries, luxury brands generally ensure that their core items, especially their iconic bags, are produced under stringent quality controls.' This dedication to localised, high-quality production is a hallmark of luxury brands, distinguishing them from mass-market counterparts that often rely on large-scale manufacturing hubs.
Zawya
16-05-2025
- Business
- Zawya
South Africa: Luxury resale market grows as consumers seek purposeful purchases
For the first time since the 2009 global financial crisis, spending on new personal luxury goods has declined. If proposed US tariffs on imports go into effect, luxury's slowdown could accelerate even further. But one part of the market is doing the opposite. The global pre-owned luxury market is outpacing the growth of new luxury sales by 7%. 'Luxury is still in demand, but today's shoppers are calling the shots,' says Michael Zahariev, co-founder of Luxity. 'Escalating prices, greenwashing, and concerns around quality have dimmed the spotlight on traditional luxury, prompting buyers to be more intentional about their purchases by going the pre-owned luxury route.' Who's buying designer resale? Luxury resale isn't just for the rich. Luxity's latest figures show that while high-net-worth individuals love pre-owned for limited-edition pieces, vintage gems, and brands unavailable locally, more everyday shoppers are turning to resale for affordable access to designer fashion. As Luxity's reach expands beyond its flagship stores, online sales from areas outside South Africa's major cities are on the rise, proving that luxury lives well beyond Sandton and the Atlantic Seaboard. It's not just about buying, either; 52% of revenue comes from shoppers who also sell to Luxity and reinvest that money into new finds. Luxury with purpose Millennial and Gen Z shoppers' preference for pre-owned is also largely informed by their concerns about sustainability. 'They want luxury fashion choices that don't cost the Earth - literally,' shares Zahariev. 'It's about investing in quality pieces that last, not trends that fade.' Sure, the price tag on a pre-owned designer item might be steeper than a fast fashion find, but the cost per wear works out differently. 'Fast fashion tends to fall apart after a few wears. But with pre-owned, buyers wear it again and again. And, when they're ready, they can resell it, reinvest, and keep their wardrobe evolving without constantly consuming,' he explains. There is also the environmental reality. Fast fashion is one of the most polluting industries in the world, responsible for roughly 10% of global carbon emissions, more than what's generated by the entire European Union. What's more, one garbage truckload of clothes ends up in landfills or incinerators every second. Fast fashion is fleeting and deeply unsustainable. 'Conscious consumers are starting to ask smarter questions,' says Zahariev. 'Where did this come from? What's the footprint? Who made it? Pre-owned gives you the chance to buy into luxury without buying into waste.' Inside the business of circular fashion Circular fashion, the practice of extending the life of clothing through resale and reuse, is gaining momentum around the world. And platforms like Luxity are proving that it's not just an ethical alternative but a commercially viable one too. The company was recently recognised as one of South Africa's top 50 Growth Champions and was featured on the Financial Times ' list of Africa's Fastest Growing Companies for the third year running. With an absolute growth rate of 249.92%, a compound annual growth rate (CAGR) of 51.82%, and annual revenues surpassing R60.4m, Luxity's performance reflects how circular fashion is gaining traction in South Africa, with conscious consumption becoming both culturally and commercially relevant. 'Today, luxury is less about excess and more about access. As the pre-owned market continues to grow, one thing is clear: real style is defined by purpose, not price,' concludes Zahariev.
The South African
26-04-2025
- Entertainment
- The South African
South Africa turns up the volume on 'loud luxury' fashion
South Africa has had a passion for loud luxury for a while; it's a full-blown fashion movement, and it's only getting bigger. Step into Sandton City or the V&A Waterfront, and you'll see it everywhere: Gucci belts, Versace prints, and Louis Vuitton pieces. While the rest of the world debates the merits of quiet luxury, South Africans are making a statement, one bold outfit at a time. Loud luxury is all about being seen. Think oversized logos, electric colours, and prints that shout rather than whisper, according to Glamour SA. 'While quiet luxury thrives on subtlety, loud luxury is all about making a statement,' says Michael Zahariev, co-founder of Luxity. Luxity is South Africa's top pre-owned luxury reseller. 'Whether it's a monogrammed Louis Vuitton tote or a bold Balenciaga sneaker, people want their fashion to be seen and celebrated.' By the end of 2024, brands like Gucci, Versace, and Dolce & Gabbana saw their popularity in South Africa surge by up to 60%. That's not just hype-it's a sign that South Africans are embracing high-visibility loud luxury fashion with open arms. 'For many South Africans, fashion is a form of upward mobility way to express success, confidence, and individuality. After all, what's the point of luxury if you can't show it off?' Zahariev adds. From students to professionals, people across the country wear their stories on their sleeves-literally. Local celebrities and influencers are also turning up the volume, flaunting their looks with animal print coats, statement sunglasses, and dripping designer labels. Social media only amplifies the effect, making loud luxury the go-to choice for those who want to stand out. Despite global economic uncertainty, South Africa's luxury market is booming. The country boasts the largest number of luxury stores in Africa and a rapidly growing middle class eager to spend on status symbols. Major malls are expanding their luxury wings, while the weak rand makes local luxury shopping more attractive than ever. With trading densities for luxury brands outperforming all other retail categories by a whopping 795%, the appetite for high-end fashion is insatiable. While South Africa's love affair with loud luxury continues, it's essential to recognise that millions of South Africans still face daily struggles with poverty and food insecurity. Recent research shows that by 2025, nearly half of the country's population may not have enough food to eat. While fashion is a vibrant form of self-expression for many, we must remember that for a significant part of our society, putting food on the table remains the real priority. The stark divide between those who can afford luxury and those who rely on social grants is a reminder that South Africa's story is one of both aspiration and adversity. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
