Do you know that NIGERIA’S MULTIMILLION NAIRA HAIR INDUSTRY is dominated by Asian companies who supply synthetic and real human hair for everything from wigs to weaving but local players are slowly catching up in the highly competitive market. Wigs and weaves have become the biggest money makers in Nigeria, in an industry dominated mostly by Asian-based companies.
As the countdown for the end of the year season begins and the Christmas mood sets in, most hair salons and beauty parlours in cities like Lagos, Abuja, Port-Harcourt, Enugu etc, are a flurry of activity as customers seek to modify their looks with new hairstyles and wigs. When it comes to artificial hair extensions a woman’s hair speaks volumes about her personality and style. “The hair on a woman is the beauty, without the hair I am not sure one can be totally beautiful, so ladies hair is one of their pride, a woman has to make her hair,” to look presentable. The scramble for quick cash from artificial or synthetic hair has seen several Asian-based companies from as far as China and Japan set up factories in places like Lagos where they make a roaring trade selling their products.
Companies such as Amigo, which invested over $50,000,000 fifty million dollars in machinery and structures in Lagos, produce everything from wigs and weaves to human hair extensions which are on high demand in the local market as well as in other African countries. Some imported hair extensions have easily sold for as much as 1000 – 2500 US dollars and buyers are plenty. “Competition is fierce there is a lot of hair out there, different hair manufacturers out there, not just in Nigeria but also coming from abroad especially form China and now Korea, flooding the Nigerian market with all sought ” i think its time we Nigerian wake up and smell the coffee” start investing in artificial or synthetic hairs as well and watch the money flood in” (caution don’t start making fake o! this is low quality products let me put that as a warning because people ”no go” buy fake).
Omotola AKA Omo-sexy Nollywwod actress and brand ambassado said she believed wigs and weaves were here to stay. “Yeah, the future is bright, I mean it is hair, women will continue to look glamourous, trends are going to change, fashion is going to change, people keep changing with time, so its going to look really nice. But in Lagos, hair is big business! Trust Nigerian women to turn anything wearable into a status symbol. Imagine when a lady friend of mine told me her hairdresser, or as y’all would say, stylist, was trying to sell her a N100, 000 weave (give or take $700)! I thought I heard wrong. she narrated her story to me………….. (0ne Sunday afternoon, God delivered me from the stronghold of miserliness.
It was the weekend before Christmas and I was in a mad rush to do my hair. I was driving through Ikeja GRA area and drove in to a large salon hoping it wouldn’t be too crowded. As I parked I took note of the fancy cars in the lot. Uh oh, I thought nervously, but quickly shrugged it off. How much could it be? Me, that I’m used to retouching my hair for N300 – pere! By the time I stepped out of their upscale dryers, I was slammed with a bill of N4,500. Embarrassed at my shock, and upset because my hair was poorly done, I gave the stylist a N500 tip to help me stay calm. Later on, I had to stop myself from rattling off the opportunity cost of N5,000 – new shoes, new outfit, fuel for my gen. Hours of GSM talk time). Ok that’s enough story. I really encourage Nigeria to look at this business opportunity critically. For further information email me email@example.com or follow me on twitter @udeozochibuzo to send a direct message to me
Subscribe for alerts& follow the BIGGEST Business Blog in Nigeria & fastest growing Entrepreneurial/Political blog in Africa daily
Follow me on Twitter- @udeozochibuzo
Email me- firstname.lastname@example.org
Become My friend on Facebook- udeozochibuzoConnect with me on LinkedIn-udeozochibuzo
Watch me on Youtube-udeozochibuzo
Check out my Blog daily- http://www.udeozochibuzo.wordpress.com
You can Follow UC-Blog via Email- Simple just enter your email address to follow UC-Blog and receive notifications of new posts by email instantly.
BE SOCIAL SHARE THIS POST WITH FAMILY & FRIENDS BY CLICKING ANY OF THE SOCIAL MEDIA ICON BELOW!