Creating Opportunities For Merchandising

Lasiko Limited is start-up that focuses on promotional merchandise, branding, corporate merchandise and brand activation. According to DamilareOgunleye, MD/CEO of Lasiko, there are lots of opportunities in merchandising and young Nigerians can try the challenge of entrepreneurship.

Lasiko met lots of frustrations when it was being registered as a company. Four sets of names in pairs were sent to the Corporate Affairs Commission (CAC) but all the eight names were rejected. However, things are better now at the CAC because the internet allows a convenient search for available business names. From the frustration, the name “lasiko” came up and was actually entered as the business name.

It was fortuitous because the name lasiko seemed to align with the services of the business. The brand name also became a topic of conversation whenever Damilare met with business people to pitch in the promotional merchandise it offers for trade or consumer promotions.

The first four years of the start-up was a journey filled with mistakes and frustrations particularly around governance and policies for a young entrepreneur. However, Lasiko held its ground working with the top companies in different industries. In the last four years, Lasiko generated cumulative sales in the region to the amount of more than $2 million.

Lasiko also spearheaded a project called suvenia.com to expand the scope of merchandising and take advantage of available opportunities. Suvenia.com is a platform build for individuals to be able to celebrate their passions, obsessions and ideas. For example, corporate bodies and individuals can create their products while suvenia.com helps them.

If an individual creates “I Love The Flagship” he does not need to make the t-shirts and souvenir items. Lasiko creates the promotional merchandise, posts it online and creates a buzz to build awareness globally. Sometimes, the campaign gets viral and creates an opportunity for merchandising.

One of the missed opportunities in merchandising was the “Bring Back Our Girls” campaign that went viral all over the world. Although so much was invested on the campaign, the merchandise part that should sustain the movement through streams of support was lost. However, suvenia.com will soon get a life of its own to push out causes and campaigns.