…SPEAKS ON GTCO FASHION WEEKEND
Many entrepreneurs had the opportunity of the recently concluded GTCO Fashion Weekend to expand their customer base, creating more opportunities for business frontiers. The Chief Executive Officer, The Asoebi Company and Adira Lagos, speaks to our correspondent on the harsh economic realities and how the removal of petroleum subsidies has created a fissure in their pockets. She appealed to relevant governments to create more positive avenues for young entrepreneurs for ease of doing business. Excerpt below.
Meeting you at GTCO Fashion Weekend is pleasant and heartwarming. Let’s know more about you.
My name is Omofolahan Olowo (aka Omo), and I own two brands, the “Asoebi” company, which is a fully-fledged Asoebi Fabric Company, and “Adira Lagos,” which is a clothing line we launched today (during GTCO fashion weekend). And Adira Lagos is the main point of the show and we launched a collection because we want to try and be as affordable and relatable as possible.
So, apart from the fact that I have probably a different foreign accent, I want to be able to relate well with everyday women. Unfortunately, because of circumstances in Nigeria, things haven’t been able to go as expected. But before this, we’ve been able to maintain our prices from between N35,000 to about N50,OO0. However, we’re still trying to stay in that bracket, regardless of fuel prices and all of that. So Adira is a brand and this collection is called “aditis. It’s Italian, it’s Hebrew and an Italian and Latin spirit, and it means building identity. So, when you wear our clothes, we want you to be able to feel empowered and be able to feel strong. We are Christians. We are a Christian brand.
So, what’s your experience with GTCO?
I applied for GTCO three times, and I didn’t get in, this is my fourth time, and I got the opportunity to show wear and I’m grateful. Honestly, normally, you would think it’s the big brands or the biggest brands, but being picked, has given me this opportunity to sell my clothes, not having to pay a dime, being able to showcase your brand. I’ve sold several pieces, and I have told my family members that I wouldn’t come home with them (materials).
What would you say is your biggest challenge with the economic status of the country?
Everything. Everything has gone up. One thing that affects everything is fuel, right? If fuel goes up, I have tailors working, and I have to give them more money because they have to buy more petrol. After all, the national grid is down at the moment, and I’m not sure if it’s back at the moment. So, with all of these issues, fuel prices are suffocating businesses. Honestly, I tell you the truth, the margins I would have made last year or two years ago, I can’t make them anymore, because, we’re trying to stay affordable. So, the electricity and fuel issues, are affecting the whole economy, and for me, I’m trying to ensure that my workers are paid right, which means even when these things are going up, I have to now increase salaries. it’s, it’s, it’s tough, but…!
Knowing that you’re somebody from the diaspora and coming here in Nigeria, how would you compare the ease of doing business from there?
It’s a completely different market. In the UK or United States, everything is online. We’re trying here, but we still don’t have the customers’ focus to make online buying easy. If I tell you, oh! go and shop on my website, you’re just like, Auntie, I want to buy this beam now. Right? With the ease of doing business, I would say we’re getting there, but I don’t know if we’re ready for it, so it’s taking us a longer time to get there. I think we will! And things like this help! Opportunities like this are helping us facilitate business, facilitate trade.
I think, with things like this and other platforms that I know, ensuring that now, we can make, all these transfers, ensuring that our internet and activity is good. You know, I think we’re getting there. I don’t want to bash Nigeria, because I do think that we’re trying. And Rome wasn’t built in a day. Okay? To reemphasize in terms of business, since we started this morning, I think it’s been good. It started off a bit slow. It’s been good. We sold quite some pieces. This one that I’m wearing (demonstrating), we have sold out on it. Somebody just bought the final one. For the last one piece, we had someone just come in and buy three boo-boos. So, people are coming. They’re shopping. We’re trying to push our fabric so they can go a bit faster. But so far, it’s been good. I’m not taking anything back home. You can quote me!
What would you say to GT?
Thank you, GTCO. I hope you’ll pick me up next year. The opportunity is immense, it’s like they’re giving you a platform to just shine and do whatever you need to do right. And for me, that is just giving back. Thank you very much.
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