entrepreneurs.ng has been following Idowu Ejere and Odion Ejere of Esteem Royale Cosmetics on social media. These beautiful ladies are thinking outside the box and breaking new ground in the cosmetics industry.
As our custom when we discover rare talents, we reach out to them to tell their story in their own way. We know that the entrepreneur’s journey is indeed a challenging one. Getting to know people who are already making leaps in this journey is a great motivator for budding and aspiring entrepreneurs.
Background Of Odion Ejere
“I am a Lawyer and Human Resource professional with a decade of experience in organizational development and business operations.
My law degree is from Igbinedion University Okada, Nigerian Law School and I also hold a Master of Arts degree in Human Resource Management from Westminster Business School. I have also improved my skills with professional certifications in business and entrepreneurship from Harvard University.
I am a member of CIPD, ARP, IRP, and on the Board of Trustees, Inspiring Working Women network. As the Chief Executive Officer at Esteem Royale Cosmetics, I lead the overall business operations, implementing the Strategic Plan, Financial Management Plan, Investor Relations and Business Development Plan”.
See Also: Mofolusade Sonaike, the influential mumpreneur and one of the top 100 leading ladies in Africa.
Why the cosmetic industry?
My biggest influence in my career choice is my sister and business partner, Idowu Ejere.
I always had a passion for cosmetics but it wasn’t until 2013 that my sisters and I decided to give it a go by launching a salon brand in Manchester, United Kingdom.
The cosmetics and beauty industry is growing rapidly and is worth over $516 billion and estimated to reach $800 billion in market size by 2023. While the global cosmetics industry is growing annually at 4-5%, the African cosmetics industry, which is currently valued at $10 billion is growing at 8-10% annually.
The Nigerian market alone is valued at $4 billion and is expected to grow rapidly over the next decade because of the surge in consumer demands and growth of the middle class. We are poised to meet this demand and expanding our product portfolio to include makeup to reach new customers and pop-culture trends.
Do you have a mentor?
Apart from my parents and sisters, there are people I admire who have dedicated time and effort to encourage and provide useful advice and bridges along the way. I’ll prefer not to mention their names yet.
Tell us about Esteem Royale Cosmetics.
Esteem Royale Cosmetics is the vision of 7 sisters and the dream was born while we were on a girl’s trip. The conversation was about opportunities in the cosmetics industry and creating differentiated products for women of colour.
It was first registered in the United Kingdom and later Nigeria and has been in operation since 2013. However, it was formerly known as ‘Esteem’ until our rebranding in 2018.
Since the release of our first handmade organic papaya soap in 2013, we have created over 25 unique skin care products and recently launched our makeup line with a lipstick collection. We have sold over 20,000 products since inception and now reach customers in 12 countries via our global online store. We are working our way steadily to achieve our vision of becoming the number one global cosmetic brand out of Africa by 2028.
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Company structure of Esteem Royale Cosmetics
Our employees are our biggest assets and we have some of the best brains and skills in the Nigerian cosmetics industry. We run a high-performance, lean workforce and outsource most of our support and specialized functions. We currently have only 7 full-time employees and 4 part time employees working from Nigeria and the United Kingdom.
Our culture is a mix of family values and a high-performance innovative start-up. We outpace industry giants by creating non-traditional, non-generic products and getting them to customers more rapidly.
Our competitive advantage is our ability to be nimble and adjust fast to the changing beauty trends. We have put in place processes that cut down our production cycle from idea conception to product launch. It is now 35 days for makeup products and 60 days for skincare products. This has helped us outpace the production time of some of our competitors and independent cosmetics companies.
Beyond these, our products are unique, made in our own proprietary formulations with the highest quality ingredients and latest innovation in environmentally friendly packaging.
Esteem Royale Cosmetics in 5 years and the role you intend to play
Beyond our online presence, Esteem Royale Cosmetics will be more visible in UK, US, France, UAE, South Africa, Ghana and Nigeria in the next 5 years. Our formulas would be improved, and our products should be staple in beauty stores, salons, general stores and makeup studios. Hopefully, I will still be leading my great team in 5 years’ time.
Tell us how you have leveraged technology in your business.
Our innovative packaging design is perhaps one area where we have most leveraged latest technology. E-commerce has also greatly helped us reach wider range of customers. These customers shop from their mobile phones on the go and make electronic payments. Ensuring on-time delivery is a key differentiating factor for companies in the e-commerce space. Therefore, we have adopted digital supply chain systems to manage our inventory and delivery.
Tell us the challenges You have faced so far in running Esteem Royale Cosmetics and how you managed it.
Like most start-ups in Nigeria’s business ecosystem, our biggest challenge has been access to long-term investment and marginalization of Nigerian-owned brands in Nigeria. Unfortunately, cosmetics business in Nigeria is dominated by big foreign brands. Most retailers prefer to stock those brands and in some cases, we have had stores tell us outrightly that they do not stock Nigerian brands.
Consumer behaviour has changed over the last decade, customers are happy buying directly from the manufacturers and we are reaching more customers directly through social media. A major component of our Brand Impact Strategy is using the power of social media to reach customers in multiple ways.
On the issue of investment, we found innovative ways to raise funds from individual investors through a peer investment mechanism that allows us to share profit with investors over a short period. However, we are constantly pitching to investors and hoping to raise early-stage investment the next year.
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How have you been able to sustain your business in terms of financing?
The initial start-up capital came from the founders and co-founders as well as other family members. In terms of sustenance, we are seeking early-stage investment.
Any decisions you took that you wished you had done differently?
At the height of Nigeria’s economic downturn in 2016, we put a hold on production which backfired and affected our stock and subsequently sales for that year.
How do you give back to the society? Any CSR projects?
As a company, we support Inspiring Working Women (IWW) by way of micro-business support for rural women. We also offer internship and Traineeship programs to 2 students for 3 months every year.
Other business interests?
My sole focus is Esteem Royale Cosmetics.
Advice for someone starting out a business in your field.
Know the industry you are getting into, and do something that comes easily to you, which you have mastered. Constantly research and improve your skills through training and short courses.
What is your greatest achievement so far?
My greatest achievement so far is seeing Esteem Royale Cosmetics come to life with products. Watch for news about us.
When all is said and done, what is the most memorable thing you have done that you want carved on your tombstone?
That I gave my best and followed my dreams.
What advice do you have for budding and aspiring entrepreneurs?
Always remember this: you can’t have a business if you don’t have products/services or customers. So focus on being your own rainmaker by finding the investment, creating the product/service, building your customer base or creating a demand for your products. In essence, create a business, market, sell and sell and sell. The fame and accolades will follow naturally.
Tell us what your typical day looks like.
My days are not routine. I start the day with a prayer, then I check our financial situation, and sales status report and follow up on industry news. The rest of the day is spent with my team working on strategies, fulfilling orders, designing new products, relating with investors etc.
Tell us how you unwind.
I read books, watch movies, listen to music, spend time with family and when I get the chance, I travel.
Romantic relationship status.
Steady. Lol.
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