5 Founders Behind Nigeria’s Luxury Fashion Retail Brands

Nigeria’s luxury fashion scene is often associated with designers, runway shows, and celebrity style. But behind the scenes, a different group plays a powerful role in shaping how luxury fashion reaches consumers. 

These are the retailers who carefully select, import, display, and sell high-end fashion and lifestyle products across the country.

Luxury retailers sit between designers and buyers. They decide which brands enter the Nigerian market, how those brands are presented, and the kind of shopping experience customers receive. 

From clothing and handbags to shoes, watches, jewellery, and beauty products, these retailers influence how luxury is defined and consumed in Nigeria. Here are the top individuals whose retail businesses have helped structure and grow Nigeria’s luxury fashion market.

Folakemi Olaosebikan – The Regalio

Folakemi Olaosebikan is the founder of The Regalio, a luxury fashion retail store located inside the Ile Oja shopping mall in Victoria Island, Lagos. The store opened in 2023 and focuses on women’s luxury fashion, especially evening and occasion wear.

The Regalio stocks a wide range of international brands, including Area, Pucci, Marni, Paco Rabanne, Jimmy Choo, Cult Gaia, and Celine. Olaosebikan personally curates the store’s collection, drawing from her experience in personal shopping and styling. 

Her focus is on pieces that stand out, whether for red-carpet events, weddings, or high-profile social gatherings.

Since launching, The Regalio has attracted fashion professionals and well-known social figures in Lagos. Olaosebikan has also expressed plans to grow the business through more wholesale partnerships, expanding what the store can offer its customers.

She holds 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 in Benin.

Reni Folawiyo – Alára

Reni Folawiyo is the founder and Chief Executive Officer of Alára, one of Nigeria’s most recognised luxury fashion concept stores. Founded in 2015 and located in Victoria Island, Lagos, Alára is known for blending African designers with established global luxury brands.

The store carries international labels such as Stella McCartney, Dries Van Noten, Marni, and Valentino. At the same time, it provides a strong platform for Nigerian designers like Maki Oh, Lanre de Silva Ajayi, and Tiffany Amber. 

This mix allows local designers to be showcased alongside global names, helping them reach a wider and more discerning audience.

Folawiyo was born in London and raised in Nigeria. She studied law at the University of Warwick before returning to Lagos. Before launching Alára, she ran an interior design business that produced custom furniture. 

Through that experience, she noticed the lack of high-end retail spaces that presented African creativity at an international standard, which led to the creation of Alára.

Uche Rita Ukpaka – RJ4

Uche Rita Ukpaka is the Chief Executive Officer of RJ4, a luxury fashion and lifestyle retail business based in Victoria Island, Lagos. RJ4 operates as a multi-category store, offering products for both men and women.

The store sells clothing, shoes, handbags, and accessories such as watches, sunglasses, belts, ties, and cufflinks. Beyond fashion, RJ4 also stocks fragrances, skincare, makeup, home scents, and other lifestyle items. Its collections combine both Nigerian and international brands, covering modern and traditional styles.

In 2023, RJ4 expanded its business by adding a medspa and salon, moving beyond retail into lifestyle services. 

Ukpaka manages the company alongside its Managing Director, Ignatius Ukpaka, overseeing fashion, beauty, and lifestyle operations with a strong focus on curated selections and standard luxury retail practices.

Yinka M. Ashogbon – Ashcorp Group

Yinka M. Ashogbon is the Founder and Chief Executive Officer of Ashcorp Group, a luxury fashion retail and lifestyle company with operations in Lagos and London. The group was founded in 2016 and includes brands such as Ashluxury, Ashluxe, and Plus234LABS.

Ashluxury, launched in 2017, operates as a luxury concept store that introduced several global fashion brands to African consumers. In 2019, Ashogbon launched Ashluxe, a streetwear brand that blends African culture with contemporary design. Ashluxe has since expanded beyond Nigeria and is now available in cities such as London.

Ashogbon studied Biochemistry and Molecular Biology at Caleb University in Lagos and later pursued Luxury Brand Management at the University of the Arts, London. 

He has also completed executive programmes at Stanford University, the University of Oxford, and other leading business schools. His work has earned him recognition on the Forbes Africa 30 Under 30 list and the BOF 500.

Jennifer Obayuwana – Polo Luxury Group

Jennifer Obayuwana is the Executive Director of Polo Luxury Group, one of Nigeria’s oldest and most established luxury retail companies. The group was founded in 1987 by her father, John Obayuwana, and played a major role in introducing high-end watches, jewellery, and fashion brands to Nigeria.

Under her leadership, Polo Luxury Group represents global names such as Rolex, Cartier, Omega, Longines, Messika, and Montblanc. Its fashion arm, Polo Avenue, carries luxury labels including Gucci, Valentino, Bottega Veneta, Alexander McQueen, Berluti, and Versace.

Obayuwana studied at The American University of Paris and Franklin University in Switzerland. She has also completed executive programmes at institutions such as INSEAD, Columbia Business School, Wharton, Harvard Business School, and the Gemological Institute of America. 

She began her career within the family business as a sales associate and gradually rose into executive leadership, helping to expand and modernise the group’s luxury retail operations.