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When discussing Nigeria’s luxury fashion industry, the spotlight often shines on designers, glamorous runway events, and celebrity wardrobes. However, a crucial yet less visible force driving this sector is the network of luxury fashion retailers who bridge the gap between exclusive brands and discerning consumers.
These retailers play a pivotal role in curating, importing, and showcasing premium fashion and lifestyle products throughout Nigeria. They act as gatekeepers, determining which luxury labels gain entry into the Nigerian market, how these brands are positioned, and the overall shopping atmosphere that customers experience.
From exquisite apparel and designer handbags to elegant footwear, timepieces, fine jewelry, and beauty essentials, these retail entrepreneurs shape the perception and consumption of luxury in Nigeria. Below, we explore the leading figures whose retail ventures have significantly influenced the growth and structure of Nigeria’s luxury fashion landscape.
Folakemi Olaosebikan – Founder of The Regalio
Folakemi Olaosebikan launched The Regalio in 2023, a distinguished luxury fashion boutique nestled within the Ile Oja shopping complex in Victoria Island, Lagos. The store specializes in women’s high-end fashion, with a particular emphasis on evening gowns and special occasion attire.
The Regalio’s inventory features an impressive selection of international luxury brands such as Area, Pucci, Marni, Paco Rabanne, Jimmy Choo, Cult Gaia, and Celine. Olaosebikan’s expertise in personal shopping and styling informs her meticulous curation, ensuring that each piece is distinctive and suited for red carpet events, weddings, and elite social functions.
Since its inception, The Regalio has become a favored destination for fashion insiders and prominent socialites in Lagos. Olaosebikan is actively pursuing expansion through wholesale collaborations to diversify the store’s offerings and enhance customer experience.
Her academic background includes a Master’s degree in International Human Resource Management from Middlesex University and a Bachelor’s degree in International Relations and Affairs from Houdegbe North American University, Benin.
Reni Folawiyo – CEO of Alára
Reni Folawiyo is the visionary behind Alára, a premier luxury fashion concept store established in 2015 in Victoria Island, Lagos. Alára is celebrated for its innovative fusion of African designers with internationally acclaimed luxury brands, creating a unique retail experience.
The boutique showcases global fashion houses such as Stella McCartney, Dries Van Noten, Marni, and Valentino, while simultaneously elevating Nigerian talents like Maki Oh, Lanre de Silva Ajayi, and Tiffany Amber. This strategic blend offers local designers a prestigious platform alongside world-renowned labels, broadening their reach to sophisticated clientele.
Born in London and raised in Nigeria, Folawiyo holds a law degree from the University of Warwick. Prior to founding Alára, she operated a bespoke interior design firm specializing in custom furniture. Her exposure to the retail gap for high-end African creativity inspired the creation of Alára, which now stands as a beacon for luxury retail in Nigeria.
Uche Rita Ukpaka – CEO of RJ4
At the helm of RJ4, a luxury fashion and lifestyle retailer based in Victoria Island, Lagos, is Uche Rita Ukpaka. RJ4 is a multi-category store catering to both men and women, offering an extensive range of products including apparel, footwear, handbags, and accessories such as watches, sunglasses, belts, ties, and cufflinks.
Beyond fashion, RJ4 also features premium fragrances, skincare, cosmetics, home scents, and other lifestyle products, blending Nigerian and international brands that span contemporary and traditional aesthetics.
In 2023, RJ4 diversified its portfolio by launching a medspa and salon, expanding its footprint from retail into comprehensive lifestyle services. Ukpaka, alongside Managing Director Ignatius Ukpaka, oversees the company’s operations with a focus on curated luxury selections and exemplary retail standards.
Yinka M. Ashogbon – Founder of Ashcorp Group
Yinka M. Ashogbon is the driving force behind Ashcorp Group, a luxury fashion retail and lifestyle enterprise operating in Lagos and London since its establishment in 2016. The group encompasses brands such as Ashluxury, Ashluxe, and Plus234LABS.
Ashluxury, launched in 2017, serves as a luxury concept store introducing numerous international fashion labels to African consumers. In 2019, Ashogbon expanded the group’s portfolio with Ashluxe, a streetwear brand that creatively merges African cultural elements with modern design. Ashluxe has since gained international presence, including markets in London.
Ashogbon’s academic credentials include a degree in Biochemistry and Molecular Biology from Caleb University, Lagos, and advanced studies in Luxury Brand Management at the University of the Arts London. He has also completed executive education at prestigious institutions such as Stanford University and the University of Oxford. His contributions to the industry have earned him spots on the Forbes Africa 30 Under 30 and BOF 500 lists.
Jennifer Obayuwana – Executive Director of Polo Luxury Group
Jennifer Obayuwana leads Polo Luxury Group, one of Nigeria’s most venerable luxury retail enterprises, founded in 1987 by her father, John Obayuwana. The group has been instrumental in introducing prestigious watch, jewelry, and fashion brands to the Nigerian market.
Under her stewardship, Polo Luxury Group represents elite global brands including Rolex, Cartier, Omega, Longines, Messika, and Montblanc. Its fashion division, Polo Avenue, features luxury labels such as Gucci, Valentino, Bottega Veneta, Alexander McQueen, Berluti, and Versace.
Obayuwana’s education spans The American University of Paris and Franklin University in Switzerland, complemented by executive programs at INSEAD, Columbia Business School, Wharton, Harvard Business School, and the Gemological Institute of America. Beginning her career as a sales associate within the family business, she has progressively advanced to executive leadership, spearheading the modernization and expansion of the group’s luxury retail operations.
