By Chidi Iketuonye
Tosin Olukuade is doing what he likes and has been doing it well enough and long enough to stand out. Some years back, just before my wedding, I needed just the right wardrobe and Tosin was the guy to call. Since then he has evolved from retailing to designing and cloth making. He has also successfully established and stamped his brand in the market space and has even gone further to carve out a niche in accessories that caters to the finer details of sacerdotal tastes.
Years back, he left a secure job to pursue his business interests which had been obvious even from his student days. He has also been able to weather the killer storms and adverse circumstances that have left many ventures and dreams stillborn in our harsh economic and poor governance regime.
He has done all these while still remaining very personable and relatable, with a keen interest in human relationships. He is amongst the few who have managed to combine the daily grind of running a thriving business with the abstract pursuit of writing, with three books already in print, and a fourth in the making. When asked about his secret, he attributed his staying power to his faith, and the determination inspired by such faith.
Tosin embodies those qualities urgently needed by the next generation of entrepreneurs. The genuine and relentless interest in one’s pursuit; the hard work and determination that overcomes adverse circumstances faced by start ups in a poorly organised economy; and that tireless creativity that reinvents itself in order to remain relevant to contemporary needs; these are the attributes Tosin Olukuade demonstrates and that makes him a role model for budding entrepreneurs.
Q: Tell us about yourself.
A: I am Tosin Olukuade, the Creative Director for FC Accessories, the ‘A’ in premium Accessories out of Africa, brand. I am the last child of five children of my parents, Very Revd. & Mrs. Olukuade. I was born in the city of Akure , Ondo state on February 1, 1978. I’m a graduate of political science from the University of Lagos and an alumnus of the prestigious Pan Atlantic University Enterprise Development Centre. Prior to starting my entrepreneurship journey, my last employment was at Glo Mobile Telecommunications Limited, where I was a Risk management executive. I resigned in October 2009 to venture into the world of business; fashion business, precisely.
Q: What informed your choice to go into business?
A: I had always known since childhood that I would do some business. As early as age 9, I had set up my first business selling coconut candy. I made some money but my teacher parents would have me rather focused on my primary school education. So I had to stop. After that, I did several other businesses both before my teenage years and during my teenage years till I got into the University. During my university days too, I engaged in different businesses – from print business to fashion business of selling ties. However it was in 2001 during my final year at the University of Lagos that I got into mainstream fashion business as a shirt maker. And like they say, the rest is history.
Q: How did you start?
A: It was quite interesting. At the point of starting, I just acted on an urge. My older brother was getting married and I was on his groom’s train, but a strong desire for a distinct kind of shirt got me started on the journey of shirt making. That was my very first stint at shirt making. It was after that that I created different versions of the shirt design and sold to friends and family. It was well received and that encouraged me to get going in the business. I started with my little savings from other businesses I was engaged in while on campus. However, as a young man at that level, my knowledge of running a business was quite limited. So I got my hands burnt a couple of times but it was a learning curve for me. It wasn’t until 2009, after 6 years of work, that I resigned from paid employment, to pursue my entrepreneurial dreams.
Q: What major challenges did you face as a clothier in the beginning and through growth of your business ?
A: Nothing comes as good without its own challenges. So I had my fair share of that. Doing fashion business in Nigeria, one of the major challenges till today is dependable machinist or as they’re largely referred to as tailors here in Nigeria. Fashion is capital intensive and a scarcity of it forces you to be creative in order to be able to grow and scale your business. So at each level of my business, I faced this challenge of paucity of machinists. But the most important thing was that I was determined to push through.
Q: Did you ever feel like quitting at any point and why?
A: Oh sure! If you’ve never felt like that, then you haven’t really started your journey of entrepreneurship. I did at different points. You’d reach a point where you’d ask yourself “did I make a mistake in resigning from my secure, paid job?” But hey, the “I can do this” entrepreneurial spirit has a way of catching up with you and you find yourself back on the path you’ve chosen.
Q: What kept you going, Faith, friends, family, will power?
A: Being an entrepreneur in Nigeria is different from being one in any other clime. So it requires extra grace to be one. Your faith is sure, a needed armour at any point. For me, it’s bedrock. Like the good book says ‘the just shall live by faith”, that’s my reality or watchword in doing business. Friends are necessary, especially when you’ve got the ones that have your back and believe in you and your dreams. Most definitely, a supportive family is nothing to discount, and mine encouraged me all the way. How do you even embark on the journey of entrepreneurship without will power? Is that even possible? A heavy dose of it has defined this journey. It’s what got me started in building the new brand, FC Accessories when I put a pause on my mainstream fashion label, FACUADÉ.
Q: At what point did you feel you had broken through that crucial stage when you knew you were now in business?
A: In my own peculiar journey, I’d say there were different times I experienced that. On the flip side, there were days I still felt like giving in or throwing in the towel. So there have been different types of ‘breakthrough ‘but to get to where I am going, I don’t dwell too much on them, but I remain thankful.
Q: What is your niche and brand?
A: Right now, my niche market is premium fashion accessories for the discerning who do not compromise on the little details of their lifestyles. And the brand is FC Accessories.
Q: What are the peculiar challenges facing the clothing design and accessories industry in Nigeria presently and what advice will you give to someone who wants to tow that line?
A: Like most other businesses on this terrain, we are united in our lack of a few things: infrastructure, funding and auspicious government policies. These three impact on every business. And my sector is not exempted.
We need better infrastructure. Stability of power as well as effective internet/data service provision, go a long way in making businesses thrive on this turf. Funding is a crucial part of running and scaling businesses, it hasn’t been really forthcoming, and even where it is, the stringent conditions make it difficult for small businesses to access. Our government needs to make policies that are very business friendly. By doing this, it will be a win-win for both entrepreneurs and government.
As for anyone intending to tow this line of business, first and foremost, be sure of what you’re bringing to the existing market and know exactly where you want to play. The market is never saturated where there’s ingenious and value laden service or product on offer. Added to this is a target market ready to explore and advocate for that. But you’ve got to be sure and ready to go the long haul. Though businesses are set up for profit, but it must not be the main goal. Offering irresistible value and solutions to the needs of the target market is the guarantee of ceaseless profit.
Q: What’s your vision and what value do you intend adding to society going forward?
A: At FC Accessories , our vision remains to be the ‘A’ in premium accessories out of Africa. As to what value we intend adding to the society, We have a mantra, which we have also hash tagged as a company; #LiveAccessorized . Our belief is this; it’s not enough to just live; that, for us, is boring. But there’s a certain joy or verve people experience when they interact with our brand and become Tribe members (as we call our clients). That joy, that feeling or experience has an overarching effect on their total wellbeing, and it’s priceless for us and them. That we pay attention to the seemingly very little details of our clients always excites joy and energy that spurs them on to fulfilling their dreams and being their utmost best. That catalyzing part done well is enough for us.
Q: Tell us about your other interests or hobbies:
A: Well, I’ve been dubbed a creative soul in different quarters, but I reckon I’m an evolving being. At the moment, my other interests could be found in my writing. I love to write. I think it comes to me naturally. I’m a family enthusiast. That has made me an author of three books from a quartet series, ‘The Son Series’. Out of four books in the series, three are already published: ‘Son of My Father, Son of Parents and the most recently released ‘Son of My Mother’, leaving just a volume in the series. That will be released in a couple of years from now.
I also run an NGO, The SOMP Africa, It’s Africa’s iconic platform for the deepening of family values and the furtherance of systems that support the family. I also love speaking, teaching or impacting the younger generation.
Q: Tell us a bit about your family and, how hard was it building a business and raising a family? A: If you’re referring to my family orientation, yes, I’m the last child of five of my two lovely parents. Though my parents were both teachers, my Dad would have loved me to be either a lecturer or doing a 9-5 job, as I never told him at the point of resigning from my previous job, but they’ve been ever supportive of my every stride. It’s same with my siblings. I’ve got a closely knit family and we are there for one another. As regards the business of raising a family, that I hope to experience in the nearest future.