African Fashion: How Nigeria’s Losode Is Bridging The Gap Between Fashion Brands And Customers
Losode, a Nigerian company, is an online marketplace that links consumers with fashion businesses while also providing entrepreneurs with business growth tools to help them scale their businesses and increase sales.
Losode, founded by Aderonke Ajose-Adeyemi and formerly managed as a side project, claims to be establishing the digital infrastructure to facilitate trade and commerce throughout the continent, as well as overcoming long-standing impediments to economic development, beginning with fashion.
LOSODE (Lọ Si Óde) is a Yoruba phrase that means: ‘Go to Town’ or in other Yoruba dialects ‘Let Us Go Out’
Losode is an online marketplace and a growth engine for businesses.
At Losode, we are building relevant infrastructure to support Trade and Commerce across Africa pic.twitter.com/MBbpwLLuNy
— Losode (@thisislosode) June 3, 2022
“Despite Africa’s creative center of outstanding fashion designers, the lack of effective channels to drive sales is limiting designers’ growth potential.”
Fashion items are always in demand in Nigeria, from statement pieces to everyday items, but getting products into the hands of consumers has proven difficult, according to Ajose-Adeyemi.
“We all know there is talent and a market, but we need more effective platforms to link buyers and sellers in a way that benefits everyone, and that is exactly what we are working on.”
She claims that the greatest competition for startups is open markets, where companies set up shop to gain customers and support.
“These locations allow entrepreneurs to do more than just acquire and sell. They frequently provide a variety of tools to businesses in order to help them develop and profit. “We aim to reproduce this experience in a digital context, and eventually build a global marketplace where consumers from all over the world can access African brands, and brands can use our network to reach African customers,” Ajose-Adeyemi said.
Prints and Colours
@culturecoutureng is a Ready to Wear Fashion brand dedicated to applying bold prints in the creation and crafting of beautiful garments
Are you a Fashion Brand?Are you passionate about excellent design?Are you looking for ways to grow your Fashion Business? pic.twitter.com/BC5zH0uZw9
— Losode (@thisislosode) June 11, 2022
Losode has received some startup money but has been largely self-funded to date, despite seeing a 20% month-over-month increase in platform users over the last six months.
“As we begin to make more strategic measures to enhance awareness and gain more users, we expect this growth pattern to continue,” said Ajose-Adeyemi.
“We’re now looking for investors to help us raise the capital we’ll need to expand our platform and attract more businesses and customers.”
The firm, which is based in Nigeria, also has merchants on its site from Ghana, Kenya, and South Africa.
“As we expand out to the 46 countries across Sub-Saharan Africa, we’ll take a phased approach, determining which cities we’ll be active in based on GDP, commercial activity, and population size,” said Ajose-Adeyemi.
“In our initial phase, we have targeted 15 countries, which includes some of Nigeria’s neighbors. We’ll also be on the lookout for cities and countries that need our help. In the end, we’re establishing a global brand.
Beyond fashion, we’re looking into other industries where our technology can have a significant impact, break down trade barriers, and empower entrepreneurs to do tremendous things.”
The company earns money by collecting a commission on each item sold, as well as through targeted advertising.
One of the best things about working at Losode is the heart of service and gratitude that is so evident across the team.
Cool is great and we are but our culture is even more exciting!
2022 remains our year of great traction! Spot our amazing tees…#losode #Africa #entrepreneur pic.twitter.com/ya4DuHCeR5
— Losode (@thisislosode) January 29, 2022
Losode is an ecommerce marketplace network that connects fashion designers and companies with customers across Sub-Saharan Africa, allowing shoppers to easily obtain high-quality clothes at low prices. We take satisfaction in being able to provide both men and women with attractive and cheap clothing, shoes, and accessories.
‘Losode’ means ‘let’s go to town’ or ‘let’s go out’ in Yoruba. It’s no surprise that we identify strongly with the Yoruba, who are described as a West African people who live primarily in the coastal regions of South Western Nigeria and are known for their former city state and complex material culture, as evidenced by their music, art, and sculpture by the Collins dictionary.
As an organization dedicated to the development of the African fashion industry, we felt it was important to align ourselves with a diverse and deeply rooted tribe. To provide robustness for all of our consumers, our style selection incorporates both ethnically African elements and western aesthetics.
At Losode, we collaborate with a variety of fashion labels to provide you the highest-quality clothes and accessories designed particularly for the African market. To provide robustness for all of our consumers, our style selection incorporates both ethnically African elements and western aesthetics.
Our mission at Losode is built around five main objectives:
- Empowering Entrepreneurs
- Smashing existing trade borders
- Doing Big Business
- Serving the industries we play in
- Boldly and courageously
As a platform, we help entrepreneurs become more profitable and scale their fashion businesses.