Starting a fashion brand is a big step in any part of the world, especially in Nigeria. Just a few of what needs to be done is to know the primary cost, and have a laid down budget.
Putting certain factors into consideration, planning for long term and short term goals is important. Like most businesses in Nigeria, a number of fashion brands also fold up after a short period, however, this has not stopped others from aspiring to build their own brands.
This brings the question, “How much does it cost to start a clothing brand?’
We spoke with a few Creative Directors who have launched a fashion brand and are still running it successfully.
Raji Adedamola who is the brain behind Tradsense Apparels said, “With about #50,000 to #500,000, a good fashion brand can be set up. The price depends on a whole range of things, however, like the payment of a good workspace, payment of a straight sewing machine, overlocking machine and most importantly, branding, and so on”.
Oghenekome Oveh, the Creative Director of Koko Dee, a fashion brand focused on bespoke tailoring for males and females had said, “On a small scale, the cost of starting fashion brand in Nigeria should be around #25,000.”
This cost covers the full sewing machine service and the accessories needed; thread, needles, scissors and the likes. The profits made from the first few outfits can be redirected into the brand to further expand it”.
Ore Akiinde, the creative director of the eponymous fashion brand, Ore Akiinde, which is a brand that focuses on handmade crotchet outfits, bralettes, crop tops, mini skirts, wrap tops, beanies etc shared her thoughts. “For me, the start-up cost wasn’t too expensive, because for my brand, the key things invested are time and energy. With about #15,000, I was able to successfully start my fashion brand. The cost was for the purchase of yarn, payment of a fashion photographer, as I modelled my first few pieces”.
Here’s what Mariam Osukoya, a doctor and the Creative Director of Mayborhyme, a fashion label, had to say. “On a small scale, #500,000 should be sufficient. This cost should cover the registration of the company name, electrical sewing machine, weaving machine, a good workspace and an assistant.”
Temitayo Mary Balogun, the creative director of May Coutures which focuses on corporate, casual and traditional wears for men and women including grooms’ and brides’ wears had this to say, “It took me about #15,000 to start my fashion brand, but this was just the cost of fabrics, and a few other accessories. The prices must have changed however, over the years because of the Nigerian economy”.
The creative director of Day Creations, which is a fashion label focused in making bespoke, ready-to-wear apparels with quality fabrics for men and women, Daniel Anyanate said, “A small scale fashion brand needs about #200,000 to #300,000 to start. The price could vary though depending on the scale of the business and the plan being executed”.
What do you think, does this help you? Let’s know in the comment section below.