In an interview with New Telegraph, Funmi Ajila Ladipo, the president of the Fashion Designers Association of Nigeria mentioned that the fashion industry in NIgeria is not fully exploring its financial potential yet.
Stears business reports that the global fashion industry is worth over $2.5 trillion with africa just about 1% of the total share.
This shows that the global fashion industry has a lot of prospects financially and Africa as a whole is barely feeding from this industry with rich potential.
Although a survey from Mckinsey and Company shows otherwise, saying that the Nigerian Fashion Industry is booming, a look at the percentage of Nigerian fashion items sold on sites like Jumia show that at least 60 percent of the fashion items sold are foriegn items.
Ajila Ladipo, who recently launched a clothing line with her daughter, highlighted several issues that might be contributing to this lack of growth in the industry.
According to her, young designers are not willing to sit and learn to the point of expertise but instead, they take off halfway to be on their own.
She also made a point that the Nigerian fashion industry should invest more in ready-to-wear and make customers pay more for custom made wears because it takes more effort.
Placing the right emphasis on attaining expertise will increase the financial prospects of the industry in Nigeria.Like 0
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