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So if you are part of my gang of Instagram admirers (#stalkers) of The Polo Avenue handle, by now you would have gotten used to seeing scandals with N800,000 prices tags, sunglasses and belts that cost half a Million Naira and so on. The Polo Avenue website might be an empty shell of some sought, really have no words to describe the front end of the site but they only stock few designers mostly foreign and definitely no Nigerian designer, so obliviously the carter to few clients and have a small profit margin compared to bigger guys like ALARA.
So what about the internationally acclaimed store or what I call a Luxury Lifestyle Playhouse called ALARA, we have heard so much about it on foreign media and no major local media sighting, one would think it was based in London or Paris. A red building with a simple but not so simple facade, located on one of the power streets of Lagos, Nigeria. Apart from the being probably the only high end concept store in Nigeria, it is also one of the few retailers that stock Nigerian designers. With all the international media and press, likes of the Otedeola and co, Maki Oh, Classic Man Singer, etc hosting their show and what have not. An average would be lead to believe that they have hit a gold mine; but when a Nigerian sees you driving a car and at least someone enters your store either buying or not, you are consider a rich man.
The question, how much is ALARA making in revenue and are they pivoting to an event center model of business? Because a few searches on Instagram would easily tell you that, their social media accounts have superior ancient updates, and to be honest I really do not see the benefit in ALARA stocking your products for you, except you are going for a one sale in two months kind of business.
With clothes and accessories and that have collective starting price tag from N150,000, I don’t see how you could pay your bills, remember there is no way 100 pairs with N350,000 price tags would sale out within 5 months, except you live in China.
