Africa’s contribution to the $2.5 trillion global fashion market is estimated to be less than 1% of the total. Euromonitor estimates the Sub-Saharan fashion market to be worth $31 billion, with Nigeria contributing 15% of that ($4.7 billion). This contribution is significantly less than South Africa’s ($14.4 billion), as Nigeria has more than three times South Africa’s population.
However, the African fashion industry has grown in size and sophistication, attracting global attention. In addition, unprecedented initiatives have driven demand that continues to fuel fashion consciousness in Africans. But while we commend this, designers in Africa have ignored that income levels are relatively low and Africans have fashion tastes stemming from their roots.
The luxury division of Africa’s fashion market frequently comes up in discussions, but value brands tend toward the sizable portion of Africans with their fashion taste in streetwear. Despite being less well-known than their premium competitors, such startups will have the most customers. One of such startups is Rooomxix.
Gbenga Adeyefa launched Rooomxix in July 2018. The brand is a retail streetwear fashion brand focused on revolutionizing African street fashion. Rooomxix is committed to ensuring that high-end streetwear is more affordable and accessible across the continent.
In August last year, Rooomxix secured a $1.5m investment from Nigerian Fintech startup Patricia to facilitate its nationwide expansion. While CEO Gbenga Adeyefa spoke on the funding, quickly noted the potential streetwear has on Africans.
“Our confidence in securing this new financing is backed up by budding industry and enormous potential in streetwear not just in Nigeria but in Africa at large. Our goal is to accelerate Africa’s transition into the global fashion scene,” Gbenga said.
A look at what Rooomxix Offers
“Rooomxix has been committed to delivering new shopping experiences for the fashion street style community. Both in our stores and online, you drip for the culture. Original style matched with original streetwear fashion for all seasons”.
The website has a function for managing user accounts. On the website, the user may easily create an account, follow orders, and make other purchasing choices.
The search function allows users to narrow their purchasing options, access comprehensive product pages, and filter things. Every consumer was considered in developing these features, ensuring they would enjoy a seamless and opulent online shopping experience.
The website offers a Best Selling Streetwear section to view the most popular accessories and outfits. By streamlining your options, the functionality also helps you shop more quickly and efficiently.
The Essentials is another feature. They all have fundamental requirements for our street-style collection. Thus we developed this important staple element for all of your streetwear requirements. You’ll find sweatshirts, windbreaker shorts, caps, and other essential pieces of basic streetwear.
The Ouut’s Take
If managed strategically, Nigeria’s fashion industry has a fantastic opportunity of expanding. But, more importantly, if the sector develops with purpose and sustainability, it has great potential to empower a large number of people and significantly strengthen the Nigerian economy.
In the future, Rooomxix will be looking to strengthen its African grip. Fejiro Hanu Agbodje, CEO of Patricia, already noted that Rooomxix would expand its inventory for the online stores to service Africa.
Only 11% of respondents to a Mckinsey survey thought foreign brands were more stylish than domestic ones. This survey supports the growth potential surrounding African fashion brands.
“The fashion industry, especially the high streetwear niche, holds untapped opportunities for brands like Rooomxix. This new funding will allow Rooomxix to ramp up its expansion plans in Nigeria, delving deep into technology,” said Agbodje.