‘Fashion in Nigeria is a virgin industry’

Uyi Michael Agho is a Nigerian serial entrepreneur and chief executive officer of Still Broke, a new luxury clothing line. In this interview he tells BusinessDay’s  STEPHEN ONYEKWELU about his adventures. Excerpts:

 

Tell us how the journey began?

The journey started from my childhood. I’ve always been fashion driven because my mum was into fashion business. She owned a fabric store back then and I would always help her out with colour combinations.

What does a day in the life of Michael Uyi Agho (Godson) look like?

Every day is always full of life because I hate to be stuck in a boring environment; so I go out of my way to make sure the people around me are in very high spirit and full of energy. I work-out a lot and I talk a lot too. Laughs.

How did you start your business?

To be honest, I’ve always wanted to own a fashion brand and when I started, it came off as a joke to so many people. Even though this isn’t my first business, a lot of people still didn’t believe I was going to actually start it.

What inspired the name, Still Broke?

Good question! The name ‘Still Broke’ actually took me a while to come up with. I wanted the name of the brand to be something anybody can relate with.

I see my brand as a reminder of where we are coming from and what still needs to be achieved. ‘Still Broke’ has absolutely nothing to do with money; it’s all about being on your grind and your ability to constantly keep hustling regardless.

What influenced your interest to establish the Still Broke Brand?

I wanted to bring a luxury brand to Africa at a very affordable price. A lot of times, we see people running out of Africa to get luxury underwear. I wanted it to stop!

Every time I travel out of the country, I keep getting calls from some of my friends to help them buy these underwear, which by the way, is quite expensive and I just felt the need to bring something that measures up to that same standard but at a more affordable price.

How would you describe the fashion industry in Nigeria?

I think that the fashion industry in Nigeria is a virgin industry because it is quite untapped. Most people come into the industry for the wrong reasons. Some just want to penetrate the market in order to make money which is important. However, money shouldn’t be what drives you; passion should. To go into the fashion business, you have to be fashionable period!

 

What distinguishes your brand from others in its market category?

It is simple; Quality and branding.

Did you gain support from anyone when you started out?

Yes I did. I got support from my family and friends.

Earlier, you mentioned having other businesses you run apart from Still Broke. Tell us about it.

Okay. I have three other businesses that I run. The first one is ‘3D Cars Online’ and it is a car modification company. I also have ‘3D Wash’ which is a mobile carwash company.

You don’t have to worry about bringing your car to us; we come to you and clean it up. The other one is a record label and it’s called ‘Band Wagon Entertainment’.

 

Were you at any point discouraged? And what did you do to overcome the discouragement?

Yes, I was discouraged by a good number of my friends as well and it was as a result of the name ‘Still Broke’. It took me a while before I could convince them. I had to keep explaining the idea behind the name till they got it and accepted it. It sure was a lot of work, trust me. Laughs.

What was the major challenge faced when you set out to start this business?

Quality control and name acceptance were my biggest challenges. I sent back a lot of samples till I found fabrics of good quality that I liked.

What has been the best moment since the inception of brand, Still Broke?

The compliments! Since the official launch of the brand, people keep complimenting me especially because of the number of sales we’ve made so far.

Still Broke brand was launched officially in May, 2018. How does that make you feel?

I feel really proud of myself. As much as I knew what I wanted to achieve with the brand, I was also sceptical about the reception I might get, but I’m overwhelmed with the love so far and I cannot be less happy and grateful.

Where do you see Still Broke in five years’ time?

Worldwide acceptance! I’m going to break into all the big stores worldwide. ‘Still Broke’ is going to be on everyone’s lips just as Gucci, Calvin Klein and the likes.

What would be your advice to anyone who would love to go into fashion business?

Come correct! Come prepared with a lot of passion or else, it won’t work.