Aug. 14, 2022 at 9:24 am

Are Nigerian Accessory Brands Overpriced , Underpriced or Marginalized ?

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With the 90’s came the huge awareness and acceptance of made in Nigeria fashion accessories. The popular culture, of patronising our own home goods transitioned from a state of nah to a point of IT fashion items , while some came totally exclusive and sat confidently well in the luxury sect with foreign labels- shelf for shelf .

Years down the line ,can one truly say that the producers of these fashion accessories were enjoying huge patronage ? If yes , kudos but I not so, why ?

According to some Nigerian fashion lovers during a recent accessory fair , she had this to say …some of these bags and accessories are too expensive, but i guess that’s how they want to brand it. I think only those who make atleast 1million naira a year can afford them ….On the other hand , a popular accessory designer – Gbenga Artsmith says – Overpriced? or Underpriced and Marginalized.

He further went on to say …..You can not use the high price points at some of these public fairs as a benchmark because the criteria of slot availability are their price points in some cases . Also, because the market they are appealing to are intent on high quality accessories and these do not come cheap . For those who have paid their dues, their craftsmanship is top notch and everything about their service delivery is excellent- I do not think they are Overpriced. ….

Much as we agree that with luxury and high quality products , there is a “promise” of a certain craftsmanship, an inimitable experience which validates its superiority above the mass market and consumers buy into the idea behind the “promise”, the consistent devaluation of the naira does not help much when it comes to patronage . So how then do these home grown brands stay afloat ?

From brands like Femi bags, Aaboux to Zashadu and Nicole by Haguanna who are termed luxury in the bags department to fellow brands like Raya jewellery , are individually raising the stakes not just in quality and design but also in price which others seem to be towing the path ,paying less attention to quality and design but their pricing are similar . Hence the option of foreign brands ( who some swear are cheaper than Nigerian brands ) .

TAccording to another leatger designer, ….the supply for moderate-priced ready-made items in the Nigerian market may be growing more slowly than the supply for designer-priced ones. Funding, logistics and labour – elements needed for operating a mass-market model. Nigeria just does not have that yet. Perhaps the government can help out here, but let us not get carried away, as there are sustainability issues that arise from the overproduction and overconsumption that plague countries like the U.S. …’

While another consumer had this to say. Nigerian fashion is out of touch with the reality of the Nigerian market. We have a country where 70% of the population live in poverty, and 30% of the remaining population are unemployed. Of those who have jobs, 90% of them are underpaid. That leaves a small market of high income earners whose tastes are more geared towards foreign brands. The success of nollywood and the music industry come from the fact that, though flawed, they are in touch with the masses. Nigerian fashion should take a cue from our movie and music industry. first create appealing products for the masses and as the economy and the fashion industry grows, luxury berands will naturally emerge. Right now, we are running in circles round a flawed business model.

While we feel the market is still growing and needs all the support it can get, let’s not forget the fact that with the patronage of these home grown brands, we are growing the naira – one brand at a time .

Cover image – @thelexash