Our focus on this week's edition of "Entrepreneurs' watch" is the brain behind one of the fastest growing shoemaking brands in Nigeria @moroksxpression
Mr Akinyode Moronkeji hails from Iragbiji in Boripe Local Government Area of Osun State and currently a law student at Leadcity University, Ibadan. He is based in the city of Ibadan and married with three amazing kids.
In an exclusive interview with ibadanslayers, he shares with us his journey into entrepreneurial world.
WHY DID YOU VENTURE INTO SHOEMAKING BUSINESS?
I've always loved fashion and was brought up as a fashion conscious person. Coupled with the fact that I attended Loyola College and if you know Loyola during my secondary school days, we were known for academic excellence and high sense of fashion. After completing my tertiary education at Osun State Polytechnic, Ire, I proceeded to the UK, and while in the UK, I ventured into a lot of businesses and decided to stick with fashion since it was a natural thing for me and i didn't have to stress myself.
So when I got back to Nigeria, I started selling foreign brands. At a point, I sat down and said to myself, I want to build my brand and have a legacy. These foreign brands will not take me anywhere. So I decided to start my own fashion line. Initially, I started with slippers and sandals, then we graduated to making shoes, to God be the glory.
WHAT PROMPTED YOUR DECISION TO BASE YOUR BUSINESS IN IBADAN?
To be honest, I am privileged to be part of this revolution of the new Ibadan. Growing up in Ibadan, the picture of Ibadan that was painted for us was boring. I have cousins who left Ibadan right after graduation from tertiary institution because they wanted to do well.
When I wanted to start my business, I carried out my survey and I was like, what is actually wrong with Ibadan, and I realized nothing was wrong. Ibadan is good, I live here and I am very sophisticated and I know alot of people like myself who live in Ibadan and don't compromise on quality. What we just need to do is to change the mindset of people living in Ibadan they can as well get the quality they are getting in Lagos right here in Ibadan.
Then I made my decision that I was not leaving Ibadan and I will become the best fashion brand in Nigeria. From Ibadan, I can take my brand to the world.
WHAT INSPIRES YOUR DESIGNS?
I have to give credit to God. The inspiration for a design might come in my sleep, once I'm awake, i take my pen and sketch it down. That's how i get most of my designs.
Also when people come with their own designs, because we do bespoke as well, we try to do some modifications and arrive at a new design.
HOW WOULD YOU DESCRIBE YOUR JOURNEY AS AN ENTREPRENEUR,SO FAR?
Honestly, it has not been smooth. I don't like telling people the other side of the story though, I like to stick with the beautiful part of the story. From getting materials to trying to establish myself as a brand to be reckoned with, it has not been easy.
Sometimes ago, I went to market to a group of people and I told them my shoes are made with best of the best materials and they were like, "what do you mean?" and they tried to rubbish me as a common shoemaker and I said to him, "sir, I have lived abroad as well and all these things you are talking about, i know them,they are just brands.Its just names you are buying. My shoes can comfortably compete with any foreign brand. Place them side by side and you can barely know the difference.
Another thing I would like to say is that, thank God for education. Had it been I had no formal education, it would have been very difficult for me.
WHAT WAS THE FINANCING PROCESS LIKE FOR YOU WHEN YOU STARTED THE BUSINESS?
Honestly it was at zero. That was a major challenge I faced when I started. I tried to source for funds and got nothing. Eventually, I had to sell one of my properties at a very ridiculous rate. Thank God I didn't regret it.
COULD YOU SHARE WITH US YOUR MOST OUTSTANDING ACCOMPLISHMENTS SO FAR?
Actually, they are numerous. E.g. there was a day i met with the present commissioner of Information, Oyo State. I showed him my products and he was like, " Can this actually happen in Ibadan? " .
On the spot, he bought my products and asked for copies of my business card to tell people and even the governor about my products. Also, I get amazing feedbacks from people that have bought my products asking if the shoes are really made in Nigeria. At times people try to test our ability by giving us designs thinking we won't be able to make it and by the time we finish, they are always wowed .
WHAT ARE THE MAJOR CHALLENGES FACED BY THE BUSINESS SINCE INCEPTION?
The major challenge is sourcing for materials. You have to get the materials locally from people that have imported them and you are not in complete control of the quality of materials imported and we don't have the financial strength to import individually. Also the exchange rate is killing businesses. Our profit margin has been reduced drastically because of the high exchange rate.
Also, the acceptance level is still low, some people still believe that if its not made abroad, they can't wear it. Our people still need to be enlightened regarding this.
WHERE DO YOU SEE YOUR BRAND IN THE NEXT FIVE YEARS?
To be honest, in five years, I see moroksxpression as a force to be reckoned with in terms of fashion in Africa, not just Nigeria and we are working daily to achieve that.
WHAT WOULD YOU CONSIDER AS YOUR BRAND'S GREATEST ASSET? .
The decision i made not to compromise on quality, that any product leaving my company and has my name on it must be standard. Although a lot of people make shoes but the difference between is that at morokxpression, we pay attention to details. We don't say because its made in Nigeria, we would do it anyhow. We focus on the quality of material and the finishing. That's what I consider as our greatest asset.
WORDS OF ADVICE FOR BUDDING ENTREPRENEURS?
Although its good to set your eyes on profit making , you must have passion for the business. The truth is that you will face challenges and its the passion that will keep you going.
Also, there is nothing bad in starting small. Try to set your standard from the scratch, make your products to the highest quality right from the days one making one pair of shoes per week so that when you start making 100 pairs a week the quality would still be the same.
Do not compromise on quality. By the time you are done laying the proper foundation, things will be fine eventually.
ADDITIONAL WORDS FROM
MOROKSXPRESSION.
As said earlier, I would want people to change their orientation. I am not saying we should not buy things from abroad but for us to have a rethink about made-in-Nigeria products. There are so many brands in Nigeria that can compete with international brands.
That way, we can help the economy. For example, I have people working for me that I pay, imagine I have a hundred people working for me and how that will help the economy and the only way that is possible is when I have the demand. So I want to encourage our people to patronise us. Thank you. .
The #ibadanslayers team appreciates the amiable CEO of @moroksxpression for making this edition of Entrepreneurs' Watch eye- opening and inspirational.
Keep repping Ib city!
Visit www.moroks.ng to shop moroks xpresssion shoes.
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