Lagos Vogue Week Proclaims Aid Grant for Nigerian Manufacturers

Studio 189’s present on the catwalk throughout final week’s Lagos Vogue Week. LFW

Lagos Vogue Week has introduced a 500 million naira ($1.2 million) reduction grant to assist 30 Nigerian trend manufacturers, half of a bigger authorities program to ease the impression of Covid-19 on Nigerian companies whereas additionally growing the nation’s export capability.

“Fundraising for designers on the continent could be an arduous job,” mentioned Omoyemi Akerele, founding father of Lagos Vogue Week, which wrapped its newest version Oct. 30. “Conventional lending fashions have stringent necessities, and most manufacturers are usually not essentially able to go down the fairness route. I imagine the Export Enlargement Facility grant facilitated by the Nigeria Export Promotion Council [NEPC] will assist strengthen the chosen beneficiaries’ entry to market technique for the following season,” she added.

In accordance with Akerele, the beneficiaries of the grant, whose names haven’t but been made public, have been chosen from an current pool of designers which have been collectively offered by Type Home Information and NEPC at Commerce Reveals the world over within the final six years beneath the “Lagos Vogue Week Presents” umbrella.

“These manufacturers have been in keeping with solidifying their retail footprint in key cities and digital locations the world over. The intention of the grant is to extend entry to the worldwide marketplace for these manufacturers,” mentioned Olusegun Awolowo, govt director and CEO of the Nigerian Export Promotion Council.

Lagos Vogue Week additionally partnered with Fru Women and PopSwap, a brand new digital neighborhood that hosted the inaugural block-chained enabled “Swap Store” expertise, which noticed items from designers like Emmy Kasbit and Nigerian celebrities swapped throughout the occasion.

Study extra:

Africa’s Powerhouse Is Rewriting the Vogue Week Playbook

As Lagos Vogue Week kicks off, founder Omoyemi Akerele appears again at ten years of reveals and divulges how Nigeria’s flagship trend occasion may undertake a pan-African technique within the decade forward.

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