5 months ago
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OlayebiFemi Olayebi is the founder of Lagos Leather Fair (LLF), a platform that showcases, celebrates and promotes talents and craftsmanship within the Nigerian leather industry. Olayebi, a French graduate from the University of Ibadan, Nigeria, and a translator, is also the creative brain behind FemiHandbags. She became an entrepreneur accidentally in 1992 when she tried her hands at making a baby bag for her first baby. In 2008, she became a Goldman Sachs 10,000 Women scholar and underwent an entrepreneurship programme at what is now the Enterprise Development Centre (EDC), with her business becoming a case study for MBA students at the Lagos Business School in 2012.
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She championed Lagos Leather Fair in 2017 with the aim of shining a light on the possibilities within the Nigerian leather industry.
Olayebi has participated in trade shows across the globe, from Lagos to Jo’burg, to London and New York. At the peak of the COVID-19 pandemic in 2020, she signed a partnership agreement with the Mastercard Foundation to produce millions of PPE (Personal Protective Equipment) to help alleviate the effects of the pandemic across five Nigerian states. In 2022, she was awarded the Legatum Foundry Fellowship by the Legatum Centre for Development and Entrepreneurship at the MIT (Massachusetts Institute of Technology) in the United States. She is extremely driven and passionate about her work and proving that impeccable quality can indeed come out of Africa. In this interview with MARIA DIAMOND, she spoke about the oncoming Lagos Leather Fair (LLF) 2024 edition, its commitment to improve Nigeria’s leather industry, among others.
As the founder of Lagos Leather Fair, what inspired the idea, and how has it evolved over the years?
We realised that the Nigerian leather industry has a huge potential to positively contribute to the country’s Gross Domestic Products (GDP), if well structured. So, we thought, why not establish a platform to create an opportunity to bring together stakeholders from across the value chain, from the creative and designers, to craftsmen, manufacturers and retailers, to have real conversations about moving the industry forward. This was how Lagos Leather Fair started and it has evolved significantly to become the biggest leather fair in West Africa.
Over the years, we have changed the narrative and shifted the psyche of the consumer towards appreciating made in Nigeria and by extension Africa. And that has succeeded in driving growth and innovation in the industry. We have expanded our offerings to include not just the usual exhibitions, workshops, masterclasses, and runways, but also integrated initiatives such as the LLF Awards as well as a pitching event. And now, the LLF Accelerator Programme, which is on-going in partnership with Wema Bank. Of note is that LLF is no longer just a fair, it has built a community to become a solution-provider for the ecosystem it seeks to build.
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The theme for this year’s LLF is “Levelling up”. Can you tell us more about the significance of this theme and how it reflects the current state and future aspirations of the African leather industry?
The theme “Levelling Up” for LLF this year aims to advance the narrative within the leather ecosystem by finding concrete ways of improving and strengthening the supply chain. It reflects a call to action to elevate the industry to new heights, embrace innovation, seize opportunities for growth, development and expand market reach. We have become a trusted brand, and relevant stakeholders are now beginning to engage with us to actualise the objectives that were laid out in 2017 when we created the platform.
“Levelling Up” therefore speaks to the industry’s commitment to raising standards by intentionally working towards bridging the skills gap, especially at production level, and actualising more sustainable practices at every level of the supply chain. By levelling up, African leather businesses can enhance their competitiveness not just in the local markets, but also on the international stage.
The LLF Accelerator Programme is making a comeback in this year’s event. Could you outline the main objectives and goals of the programme?
The LLF Accelerator is a mentoring concept and the primary objective is to guide and empower emerging leather creative with invaluable resources and industry knowledge to develop themselves and their businesses. By participating in this design and development programme, the selected brands will gain invaluable first-hand insights from industry experts and seasoned entrepreneurs, who will share their experiences and equip them with the necessary tools to thrive and grow their businesses.
The idea is to help these up-and-coming leather entrepreneurs refine their offerings, to be more innovative, strategic in approach, improve on their day-to-day operations, so that they can begin to gain relevance in the marketplace and become more competitive. The programme is committed to promoting excellence within the leather industry and will provide the brands with specialised training on various aspects, from essential leather working skills, to business operations and management, to branding and marketing strategies, while also offering a session on networking and pitching skills.
What are some of the key benefits participating entrepreneurs can expect to gain from the programme?
Participants will benefit from one-on-one mentorship opportunities from industry experts and seasoned entrepreneurs, who will provide guidance, feedback, and support tailored to the specific needs and challenges. They will gain insights from industry experts about best practices, market trends, and effective business strategies.
They will also learn about strategies for building and growing their brands, creating strong brand identities, and effectively communicating their unique value proposition to their target audience.
At the end of the programme, the top ten participants will be given the opportunity of showcasing their work for free at the fair aside pitching their businesses to a panel of investors for a chance to secure equity-free funding, the much-needed capital to take them to the next level.
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The LLF 2024 Accelerator Programme will culminate in a “Pitch-A-Leather-Biz” session, how do you envision this session contributing to the growth of participating businesses?
We are very excited about this year’s Accelerator Programme and the Pitch-A-Leather-Biz initiative, as both experiences will provide entrepreneurs with the tools required to grow as a brand, including the opportunity to pitch their businesses to a panel of investors to open them up to potential funding opportunities. Constructive criticism and insights from seasoned professionals can potentially help participants refine their business strategies, so presenting their business ideas and plans to a panel of industry experts and investors will allow them to receive valuable feedback and validation.
It is also a means of gaining valuable exposure and visibility within the industry and being recognised as one of the top ten emerging designers for LLF2024.
In what ways do you anticipate the Accelerator Programme will impact the leather industry in West Africa?
Specifically, the programme will provide participants with access to knowledge resources, mentorship, training, and access to funding, thus helping them to develop a deeper understanding of their craft, solve problems more strategically, and become more confident and empowered to capitalise on opportunities.
At industry level, the programme can begin to foster innovation and excellence, change mindsets, and begin the gradual process of building sustainable and scalable businesses that contribute to the growth and development of the industry. As participating businesses grow and expand, they are likely to create employment opportunities within their communities.
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By supporting entrepreneurship and small business development, the programme can therefore contribute to job creation, economic empowerment, and poverty alleviation. It can strengthen the leather industry’s supply chains by fostering collaboration and partnership among relevant stakeholders. And finally, by connecting designers, manufacturers, suppliers, retailers, and digital marketers, the programme can begin to promote efficiency along the supply chain.
What are your expectations for the future of the programme and its sustainability in supporting the growth of the leather industry?
I expect that as the programme evolves and matures, it will refine its offerings, expand its reach, and enhance its effectiveness in empowering entrepreneurs, fostering innovation and excellence, as well as strengthen brand building efforts. As the programme grows and gains recognition within the industry, I expect it to scale its impact by reaching more entrepreneurs, promoting sustainability within the industry, expanding its geographic reach and diversifying its offerings.
I also expect the programme to demonstrate measurable outcomes and impact over time, including metrics such as job creation, revenue growth and market expansion.
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