Beauty Industry Players Tasked on Growth

Omolabake  Fasogbon

Operators in the beauty industry have been asked to embrace growth by being creative and exceptional. 

The players were challenged to be extraordinary at the launch of the Ikeja branch of The Aesthetic Clinic (TAC) and Beauty Therapy Institute (BTI) in Lagos, recently. 

The launch marked the company’s expansion drive in Nigeria’s $7.8 billion beauty industry, following its entry in the market in 2017.

Speaking at a training session alongside the launch, Chief Executive Officer of Parthian Capital, Ndidi Ukaonu, advised players, especially budding ones to up their game and redesign their business strategy to match up with present economic reality.

Ukaonu who analysed economic impact on the sector said it was important that operators explore opportunities in present situation and effectively manage their finances to breakthrough. 

She said, “As much as we cannot shy away from the reality of inflation, we should not be weighed down by the situation, rather accept the reality and strive to stay afloat. We should endeavour to grow above inflation, otherwise, one may register growth, but not a real growth. 

“More importantly, we must see to cutting cost by exploring cheaper alternatives so not to run at a loss. Reduce products that are forex dependence and embrace local alternative, however, implement strategies to attract forex.”

Speaking on the launch, the Chief Executive Officer of TAC, Dr. Ifeoma Abajue, stated that the move was important to serve customers within the axis, reiterating the firm’s commitment to excellence. 

She said, “Despite economic challenge, our dedication to exceptional service remains unwavering, as demonstrated by our expansion to the mainland to further satisfy a broader customer base in this environment.

“We are poised to replicate our success story on the Island in our delivery which include- training, professional consultation, products retail and procedures, amongst others.” 

Also speaking, the Co-founder & Director of TAC, Eyitope Jones, added that the new office was informed by a need to bridge access gap among customers, noting that access is crucial in getting professional care.