Olufunke Okoro: Inspiring Beyond Merchandise

In a few weeks, merchandising expert, Olufunke Okoro, will unveil her new retail store in Lekki, Lagos. Known for her dynamic approach to business, Okoro, the Managing Director of Dumare Limited, has built a robust client list that includes high-profile brands such as MTN, NNPCL, UBA, and others. During a recent visit to her outlet, Vanessa Obioha sat down with Okoro to discuss how her entrepreneurial spirit has driven her expansion into manufacturing and supply.

It’s easy to feel overwhelmed inside Olufunke Okoro’s new retail outlet in Lekki Phase 1, Lagos, which is yet to open to the public. Not in terms of direction, but in the sense of awe, where every item on display calls out to you, both financially and emotionally. Whether it’s the eye-catching artworks from revered artists like Michelangelo, or the sparkling gems in the jewelry cases, everything demands attention. Music and car enthusiasts will fall in love with the decorative gramophone and luxury car design portable Bluetooth speakers. There are also mugs adorned with warm messages for loved ones, flowers, and other elegant decorative items to beautify your space. Every corner offers something suited to different lifestyles.

No wonder that during a recent tour of the facility, few journalists, including myself, found ourselves reaching for our wallets or mentally bookmarking items for future purchases.

The retail store is the latest venture of Okoro, who started her company Dumare Limited as a procurement firm specialising in corporate gifts and promotional branding, before expanding into manufacturing and supply. Through her new retail outlet, she hopes to cater to a broader range of clients beyond her portfolio of high-profile brands like the Nigerian National Petroleum Company Limited (NNPCL), MTN, Stanbic IBTC and UBA.

“So many people come to us,” she explained. “They find us on Instagram or walk into our other offices, asking to buy items. We don’t sell retail, people have been trying for years to get us to do that. Sometimes, I do concession, sometimes I don’t, but I just thought ‘Why are we losing that market?’ We might as well just cater for those people.”

Tall and curvy, Okoro, who hails from Iseyin in Oyo State, could easily pass for a runway model, though she laughed at the suggestion, claiming she’s “too curvy” for such a role. However, her focus was always on business.

“I’ve always been a business person,” she began. “Even while in school, when we go on summer breaks, I buy clothes, and sell them to my friends. That’s something I’ve always done. And when I finished school, I knew I wasn’t going to work for anybody. I knew I was going to start my business,” said Okoro who holds a degree in Psychology from the University of Ibadan and a master’s in Human Resource Management from Middlesex University Business School, United Kingdom.

Her first business was a facility management company, which she still runs. Dumare, however, was born out of her passion for procurement.

“I’m passionate about my phone. You’ll never catch me without it – I’m always online, researching and browsing for new things,” she recalled. This habit led her into the world of procurement.

“My friends would see something they liked and send it to me to help them get it, no matter where it was in the world. I pride myself on being able to source anything. There’s nothing in the world you’re looking for that I can’t get for you, even if it’s from Indonesia,” she said confidently.

What started as shopping for friends and family – clothing, furniture, and more – soon evolved into a business idea.

“I just thought this thing could turn into something else,” she continued. “And at that period, my hometown, Iseyin, was like the hub of aso-oke in Nigeria. When we were younger we used to visit there a lot and I had an auntie who wove clothes. So I began bringing aso-oke to Lagos, having them sewn and sending them to my friends abroad. This was back in 2013 before it became a trend. I would travel to Abeokuta, make them, and ship them out. That started the first chain of business for Dumare.”

Okoro later started selling to suppliers on e-commerce platforms such as Etsy and Amazon. Her goal was clear—she didn’t want to be labelled a clothes seller, preferring instead to position herself in production. From these humble beginnings, her clientele expanded to include multinationals and banks. She became the go-to person for procurement and corporate gifts, always finding ways to source what her clients needed.

Then COVID-19 happened, halting imports. But instead of letting the pandemic slow her down, Okoro innovated once again.

“We started thinking, ‘How can we manufacture some of these things locally?’”

This led to the launch of Dumare’s manufacturing arm. Okoro and her team began producing leather bags and other items, sourcing materials locally.

“We went to the North, source for the leather, bring them back here and take them to Mushin where we have a factory and make them” she said, displaying a leather laptop bag and a knapsack adorned with aso-oke designs.

The pandemic also sparked another business idea for Okoro: producing personal protective equipment (PPE).

“Because of COVID, nobody could import from China, especially PPE. So, we began sewing nose masks. In Lagos alone, we supplied about 200,000 locally sewn masks. We also made bed sheets for hospitals, using locally sourced fabrics. It pushed us to take local production seriously. Today, we make bags and try as much as possible not to import leather goods.”

According to Okoro, the reception has been fantastic.

“Our clients are embracing it. Many now request 100% or 90% made-in-Nigeria products. Everyone is sensitive to the economic situation—there are no dollars to trade. If we want to grow our economy, that’s the way to go.”

Okoro’s trips to the North also opened new opportunities in supply chain management.

“By going to the north, we obviously interfaced with farmers and their produce. Whenever I go there, I usually return with baskets of tomatoes bought at a very cheap rate. Baskets that we would normally buy in Lagos for N70,000 or thereabouts, I would buy them in the north for as low as N2,000. So, my friends showed interest and I began to buy for them. Again, we began to think about how we could link the buyers to the farmers.”

Today, Dumare has a thriving supply chain business, providing raw materials like cocoa to various industries. Okoro credits her entrepreneurial spirit to her mother, who taught her everything about business.

“My father was a medical doctor and my mother a nurse. Together, they had a hospital, but my mother was a serial entrepreneur. She would come to Lagos to get corporate clients and even owned a petrol station.”

Indeed, Edumare (God) has blessed Okoro – just like 2Baba sang in his 2006 hit, ‘See Me So.’ Inspired by the song, she named her business Dumare. Today, she’s not only a successful businesswoman, married with children but also a mentor, empowering the next generation of entrepreneurs. “There are many new entrants into the industry. I recently started a community for young entrepreneurs interested in merchandising. I’ve opened credit lines for them, increasing them as they make sales, so they don’t need capital to start. As a member of WIMBIZ, I also offer mentorship.”

With over 15 years of experience, Okoro is determined to guide the younger generation through the challenges of a business that was once stereotyped.

“I’ve been to industries where people sneer at me when they learn about what I do. It is often regarded as a man’s business. People undermine you because they perceive it as an unserious business, but I tell people that this business in Nigeria is a multi-billion naira industry, but a lot of people don’t know that. Getting clients then was difficult because they felt it was a hobby, but it was not. It’s a job. It’s what I do.”

Although more people are now interested in her field, Okoro’s ability to diversify still sets her apart.

“I’m into procurement, manufacturing, and supply chain. I’m multifaceted,” she concluded.