How Nigeria’s Losode is connecting fashion businesses with consumers

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Published: 2022-06-15
The manner in which Nigerias Losode facilitates connections between <strong>fashion</strong> enterprises and customers

Losode, a startup company based in Nigeria, is an online marketplace that connects consumers with fashion businesses. The platform also provides business growth tools to proprietors, which makes it simpler for them to scale their operations and maximizes the number of sales opportunities available to them.

Launched by Aderonke Ajose-Adeyemi in 2020, after having been run as a side project before that, Losode claims it is constructing the digital infrastructure to enable trade and commerce across the continent, and to overcome long-standing barriers to economic development, beginning with fashion. Aderonke Ajose-Adeyemi was the driving force behind the company.

Despite the fact that Africa is a creative hotspot full of outstanding fashion designers, growth potential for designers are being hampered by the lack of effective venues to promote sales. From statement pieces to everyday things, fashion items are constantly in demand in Nigeria. However, the difficulty has been in getting products into the hands of consumers, as Ajose-Adeyemi explained to Disrupt Africa.

"It is common knowledge that the market and the talent are present; nevertheless, in order to connect purchasers and vendors in a manner that is beneficial to all parties involved, we want more efficient platforms; this is precisely what we are developing."

She stated that the open markets, which are where firms normally set up shop in order to attract the clients and support they require, are the primary competitors of the startup.

Entrepreneurs have access to more than simply buying and selling opportunities because to the presence of these locations. They frequently provide assistance to firms by providing a diverse array of tools that encourage growth and profitability. According to what Ajose-Adeyemi had to say, "We want to reproduce this experience in a digital context, and ultimately build a global marketplace where consumers from all over the world can access African brands, and where African brands can leverage our network to reach customers in Africa."

Although Losode has grown its user base on the platform by more than 20 percent month-on-month, the company has only obtained a small amount of initial money and has relied primarily on its own resources up to this point.

According to Ajose-Adeyemi, "We expect this growth trend to continue as we begin to make more deliberate measures to enhance awareness and gain additional users."

" We are now in the process of engaging investors in order to raise the funding necessary to expand out our platform and bring more businesses and customers on board.

The company's headquarters are located in Nigeria, but it also has vendors from Ghana, Kenya, and South Africa on its site.

According to Ajose-Adeyemi, "We will take a gradual approach as we roll out to the 46 countries across Sub-Saharan Africa. In determining which cities we are active in, we will decide which cities have the highest GDP, the most commercial activity, and the largest population."

"We have earmarked 15 countries in our first phase, and several of Nigeria's neighboring countries are included in this number. In addition to this, we shall keep a vigilant ear out for the places and countries that are requesting our presence. In the end, we are working toward establishing ourselves as a global brand. We are also investigating other industries besides fashion to determine whether or not our technology may have a significant influence, break down barriers to trade that already exist, and enable entrepreneurs to build successful businesses.

The new business generates revenue by the charging of a commission on things sold and through the use of targeted advertising.