The Founder and Chief Executive Officer of Beunique clothing line, a leading fashion brand that has carved a niche for itself in the fashion Industry, Nseobong Akpan has cried out that the exchange rate of the naira to the dollar in the international market is crippling their business and making life so difficult to remain afloat in the business.
The businesswoman and entrepreneur from Akwa Ibom aired her thoughts recently when she was asked to highlight the challenges of running a fashion business in Nigeria.
She said, “One major problem to me is the value of our Nigerian currency. It’s practically $1 to N500 and that makes trading really expensive. N5 million right now is of no value to business people who ship in large volumes as even the cost of shipping down products are unbelievable. I think government can start from there if they want the local fashion brands to survive.”
Nseobong said there are many other challenges bedeviling the fashion industry but believe that if the exchange rate is controlled and stabilized business can be as usual as the prevailing situation is inimical to growth and unfriendly to customers.
“Nigeria is known to be a creative and business hub of the African fashion industry but is in dire need of government intervention to bring sanity to the industry. Despite the successes and failures in present times, one thing is certain; the African fashion industry is here to stay and is being celebrated everywhere in the world and the Beunique brand is riding the waves to remain a top notch name to reckon with,” says the CEO
Nseobong Akpan said as a business woman, she sees her brand expanding and exporting within and outside Africa.
“Beunique will evolve into a global fashion brand people love, trust and identify with” she states matter-of-factually.
Nseobong has grown her brand to a premium fashion brand using her beauty and personality to market the brand to the world, using the Instagram platform. She is a model and a brand influencer who exclusively brings her charm to bare on her brand.
Apart from running Beunique full time she also consults for individuals and companies on fashion matters and trends.
Nseobong Akpan was born in the late 90s and celebrates her birthday December 2nd of every year. She started as a mere clothing merchant, buying and selling clothes before blossoming into a fashion consultant.