Yormages Concept is a fashion company that is set for greater heights. In this interview with OpenLife’s Staff Writer, Isaac Ngumah, Yomi Awoyemi, Chief Creative Director of Yormages Concept provides insights into the business empire
What is Yormages fashion brand?
Yormages Concept is one of the fastest growing fashion brands in Nigeria established in 2008 to cater for the growing Fashion needs of Nigeria, Africa and the world at large . We specializes in the production of all kind of make outfits and footwear.
How long have you been in this business?
Yormages is a product of thinking and creative ideas. I have been involved in fashion business as far as 1998. I have always love the idea of looking good and I thought of it that if I can get a lot of commendation from the way I look, I can as well extend that to many people by helping them to look good . That’s how yormages Concept as a business was conceived.
What are your concept in meeting your customers?
About strategy on meeting customers, I must be sincere with you that I can talk of a particular strategy but our focus has always been to ensure that we give the best quality values to our clients at all times . We always try to ensure that there is a touch of class in everything we do. Many customers we have today are through referrals because I believe that good product speaks for itself .
FASHION BRAND
The prospect of Yormages Concept is bright. Fashion industry as a whole is large and the awareness of the Africans in creating our own identity in the way we look is what has give a lot of attention to an indigenous fashion brand . We will observe that many CEO and private business owners in Nigerians now prefer to wear simple Kaftan against putting on suits and jackets for corporate or formal event . A good example of this is our dear Vice President , Prof. Yemi Osibanjo. The idea of indigenous fashion is gaining momentum across many African society.
Can you tell us about your business prospect?
We are a one stop shop for all make fashion items . If you visit any of our stores what you will see are the quality fashion items ranging for Kaftan , tunic and all form of leather works from shoes to sandals and belts all made from our very hardworking team of staff . We are always so proud about the quality of all our products .
Can you give insight into the growth pattern of this industry?
I have been involved in fashion business all my life because it’s a passion for me. Making your passion your profession is one of the greatest things that can happen to you. The business is less capital intensive if you are willing to start small and grow organically. That’s what I always advice but it could as well be highly capital intensive if you want to start big. It doesn’t matter how you start, what determine your growth is the quality of your deliveries and your ability to manage your organization.
CAPITAL
Fashion industry in Nigeria is very saturated as you can see fashion stores everywhere you go in the country. That’s what it is important to ensure that you keep the level of your quality high and keep evolving in your designs and collection. I would have loved to see a much regulated industry where the practitioners are guided by some rules on how to operate. The major challenge that comes to mind is the copy right infringement. The situation where creativity and intellectual property is not protected can only do harm to the industry. I believe it’s a long way to go but I am sure we will get there.
Did pandemic affect the fashion business?
The pandemic affected all industries across the globe and Fashion industry is not an exception . The lockdown means no business , social distance protocol ensures most events are cancelled which resulted into a great economy lose to many of us . Even though things have started to return by to normal but it will take a long time for us to get back to pre-pandemic era.
What can the government do to support SME like yours?
The Role of Government is to provide an enabling environment for private business to strive . Provision of stable electricity is key to growth . Government policies towards supporting SMES in Nigeria should be looked into . SME could be the engine of growth for our economy if government can give adequate support to this sector . From low interest loan, to reduction of levies and fees . The role of government cannot be over emphasized .
Is it capital intensive to start one?
To get a loan from any commercial bank is an uphill task . Apart from the interest rare figure that is in double digit , meeting the criteria in terms of collateral and book keeping is not what most small scale businesses are going to find easy . The Intervention provides by the Bank of Industry that offer relatively low interest rate is grossly inadequate . I believe the policy makers in this country needs to get back to the drawing board and come up with something more substantial to life the industry out of the woods .
GOVERNMENT SUPPORT
Fashion industry in Nigeria contributes largely to employment generation in Nigeria , when considering the fact that small and medium businesses account for the 65% of the country GDP, government support for this important industry will no doubt create employment for the teeming unemployed youths of this country. Government intervention which can come in terms of direct cash transfer to the practitioners to expand their business will ensure increase in capacity and this will definitely impact unemployment market in a great deal .
For Nigeria as a whole to attain sustainable economy development, we must address the infrastructural deficit by investing massively in electricity, roads etc . The revamp of technical education is also key to boost quality of man power in the area of tailoring etc . God has blessed us with abundant resources interns of human and minerals , what will expect is the government that will annex this resources for the growth and development of our country
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