Nigeria’s luxury fashion landscape is shaped not only by designers but also by a small group of retail businesses that act as key intermediaries between creators and consumers.
While Nigerian and international designers produce high-end clothing, accessories, and lifestyle products, it is these retailers that curate, import, and distribute such items within the local market, determining how luxury fashion is accessed and experienced.
Accessories include handbags, shoes, watches, jewellery, and other premium lifestyle goods.
Operating at the upper end of the market, these retailers focus on brand selection, merchandising, and retail presentation rather than production.
Their stores offer platforms for both global luxury labels and Nigerian designers, providing consumers with products that meet the highest standards of international luxury fashion while also highlighting local creativity.
This article examines some of Nigeria’s leading luxury fashion retailers and the individuals behind them, highlighting the role they play in shaping the structure, accessibility, and evolution of the country’s luxury fashion retail ecosystem.
Folakemi Olaosebikan is the founder of The Regalio, a luxury fashion retail store located on the second floor of the Ile Oja shopping mall in Victoria Island, Lagos. Opened in 2023, the store sells women’s luxury apparel, handbags, and shoes.
The Regalio carries international fashion brands including Area, 16 Arlington, Pucci, Marni, Paco Rabanne, René Caovilla, Retrofête, Jimmy Choo, Cult Gaia, and Celine. Olaosebikan curates the selection, drawing on her background in personal shopping and styling, with a focus on evening and occasion wear.
Since opening, the store has built a customer base that includes fashion professionals and social figures in Lagos. Olaosebikan has said she plans to expand the store’s offering through additional wholesale partnerships.
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, Benin.
Reni Folawiyo is the founder and Chief Executive of Alára, a luxury fashion concept store in Victoria Island, Lagos. Founded in 2015, Alára blends African designers with global labels such as Stella McCartney, Dries Van Noten, Marni, and Valentino, offering curated high-end fashion, accessories, and lifestyle products to Nigerian and international consumers.
The store showcases Nigerian design through creators like Maki Oh, Lanre de Silva Ajayi, and Tiffany Amber, providing a platform for local talent to reach discerning customers alongside established global brands.
Born in London and raised in Nigeria, Folawiyo studied law at the University of Warwick before returning to Lagos. She also ran an interior design business producing custom furniture prior to opening Alára, identifying a gap in the market for African designers to showcase their work at an international standard.
Uche Rita Ukpaka is the Chief Executive Officer of RJ4, a luxury fashion and lifestyle retail business based in Victoria Island, Lagos. The store operates a multi-category format, selling men’s and women’s clothing, shoes, accessories, beauty products, and other lifestyle items.
RJ4 offers a mix of local and international labels. Its menswear and womenswear selections include both contemporary and traditional clothing. The store also retails designer accessories such as sunglasses, wristwatches, ties, cufflinks, belts, and small leather goods, as well as handbags and shoes for both men and women. Additional products include fragrances, home scents, skincare, and makeup.
In 2023, RJ4 added a medspa and salon to its operations, expanding its offering beyond retail.
Ukpaka oversees the company alongside Managing Director Ignatius Ukpaka, managing its fashion, beauty, and lifestyle operations. The store focuses on curated selections and standard retail practices to provide access to high-end fashion and lifestyle products.
Yinka M. Ashogbon is the Founder and Chief Executive Officer of Ashcorp Group, a luxury fashion retail and lifestyle company with offices in Lagos and London. Founded in 2016, the Group operates retail brands including Ashluxe, Ashluxury, and Plus234LABS, offering curated high-end fashion, accessories, and lifestyle products to African and international consumers.
Under his leadership, Ashluxury, launched in 2017, became a concept store introducing global luxury fashion to the African market. In 2019, he launched Ashluxe, a streetwear brand blending African culture with contemporary design, now available in Lagos, London, and other major cultural capitals.
Yinka studied Biochemistry and Molecular Biology at Caleb University, Lagos, and Luxury Brand Management at the University of Arts, London. He also completed the Stanford Executive Program (SEP) in Business Administration and Management and the Executive Program for Growing Companies at Stanford Graduate School of Business, as well as the High-Performance Leadership Program at Saïd Business School, University of Oxford.
Yinka has been recognized on the Forbes Africa 30 Under 30 list (2022) and the BOF 500 (2023).
Ms. Jennifer Obayuwana is the Executive Director of Polo Luxury Group, one of Nigeria’s longest-standing luxury retail companies. Founded in 1987 by her father, John Obayuwana, the group introduced high-end watches, jewellery, and fashion brands to the Nigerian market and continues to operate across multiple luxury retail segments.
In her role, Obayuwana oversees the group’s strategic direction and operations. Polo Luxury Group represents global brands such as Rolex, Cartier, Breguet, Chopard, Piaget, Omega, Longines, Messika, Roberto Coin, and Montblanc, while its fashion arm, Polo Avenue, carries labels including Gucci, Valentino, Bottega Veneta, Berluti, Alexander McQueen, and Versace.
Obayuwana has an extensive academic and executive education background. She studied at The American University of Paris and Franklin University, Switzerland, and has completed executive programmes at INSEAD, Columbia Business School, Lagos Business School, Wharton, Cranfield School of Management, the Gemological Institute of America, and the Owner/President Management (OPM) programme at Harvard Business School.
She began her career within the group as a sales associate and has progressed into executive leadership, playing a central role in the management and expansion of the company’s luxury retail operations in Nigeria.