Mr Adegoke Akinola is a man of many parts. He is a chartered Accountant, Tax expert and Risk assessor. Today he sits atop a vibrant and burgeoning company that specializes in the sales of luxury home and office furniture, racks, hangers, keep fit equipment, shelves, mannequins and sundry others.
In this interview, he speaks about the story behind his company RichLook Nigeria Ltd, where it is today and where he hopes to take it to in years to come. Read it.
What Is Richlook Nigeria Limited Into?
We are into sales of office and home furniture, shop fittings, shelves, swing chairs, relaxing chairs, mannequins, railings, shoe racks and keep fits items such as treadmill, cycling and fat burners amongst other items.
Our products are amongst the best in its class because we source them from very reputable manufacturers in Europe and Asia.
Why Did You Choose This Line Of Business?
My wife has been in boutique business for well over thirty years and along the line I noticed that boutique owners and fashion designers buy their mannequins and other accessories from abroad which can be very costly, difficult and stressful most times, therefore I decided to bring all the items to a particular place in order to eliminate the stress of buying in turkey, Europe and China.
While doing that I also discovered that it will equally makes sense to add furniture, racks, railings, keep fit items, hangers, shelves and sundry others in order to create a one stop shop for all these items.
Today every body is happy because instead of picking it in turkey, Dubai or China at exorbitant prices and at great risk and stress, they can confidently pick it here at greatly reduced price , without in conveniences and stress.
What Stands Richlook Out?
The first thing is integrity. We deliver on our promises interns of quality. We do not compromise when it comes to qualify. We import our products from Turkey and China.
Our price is also one of our strongest points, even when some people complain, we are not worried because we know that in relation to the quality of our products our prices are okay.
'' Even when people walk in to our show room to price our products and walk away, we don't worry because we know they will certainly come back and in most cases, they come back because they cannot get our quality elsewhere
There are a lot of things that look like ours and are selling at cheaper rate in the market. They don't last at all.
What Other Benefits Do People Stand To Derive From patronizing you?
There are lots and lots of benefit and the most important amongst them is the peace of mind that comes when you buy a top quality products.
Even though our price may appear high but at the long run when you have used what you bought for a very long time, you will then realized how cheap it actually was.
We also make delivery to our customers at very low rate much lower than what is obtainable outside. There is also credit facility for corporate customers.
How Long Have You Been In Business and What Is The Level Of Success So Far?
We have been around since 2014 and by the grace of God we have been doing well. We have made some in roads especially with shop fittings.
For the furniture, we are also pushing gradually but there are a lot of substandard or inferior products in the market which in most cases sell at far cheaper rate but unfortunately buyers don't seem to know what they stand to loose at the long run when they buy those cheap and inferior items.
Who Do You Sell To?
We sell our furniture to homes and offices especially the garden furniture and we also sell to retailers.
We sell our mannequins , racks, hangers and shelves to boutique owners,fashion houses, super markets and shops.
Apart from furniture we also sell CBM and HDF of not less than 18mm and the density is not less 730 Per CDF.
Where Do You Source Your Products?
We bring our products from Turkey mainly. We also import the iron shelves from China.
Where Do You Want Richlook To Be In The Near Future Or Do You Intend To Manufacture Some Of These Items Locally?
Yes that is our long term goal. In fact we have started to consult in that respect.
Well there are lots and lots of challenges but notwithstanding, we are forging ahead. There are substandard products all over the place and the importers of these substandard products can afford to sell at any price.
Moreover, sometimes we lose some customers when we insist on VAT whereas some of our competitors don't pay VAT. Again, we are struggling with high tariff regime especially for the home and office furniture. There is also the Nigerian factor. We constantly run into situations where people will pick our products but fail to pay as agreed.
What Is Your Personal Principles?
I stick to quality. I don't like to offend or hurt people. If I offend or hurt you now, you may forget in a few days but it will take me months or years to go over it.
Again, I trust very quickly and easily and that has been affecting me negatively because people sometimes tend to capitalize on that.
What Is Your Position On The Planned Increment Of VAT?
I'm totally opposed to it because it will amount to adding to the miseries of Nigerians. What has the government been using the money it has been collecting for? Here in Nigeria every body provides all the amenities he or she requires as if government does not exist.
We run on generators day in day out, we back it up with solar facility which we spent millions of naira to acquire and at the end of each month PHCN shows up. Since government has not been living up to expectations it therefore has no right to ask for more funding by way of VAT increment.
Our Views On Richlook Nigeria Ltd.
Richlook Nigeria Ltd is by all standard a big player in its chosen sector.
In its short period of existence, the company has come to be seen as a one stop shop for high quality home and office furniture, shop fittings racks, railings, garden chairs, keep fit machine, hangers, shelves, fat burners, mannequins and sundry others.
Its adherence to standard, quality and pocket friendly pricing set it apart from peers and contemporaries in this subsector. The company stands on sound moral principles of integrity, trust and reliability.
As a deliberate policy, the company strives always to satisfy its customers through quality products, excellent pricing and personalised services under a cordial and friendly environment.