More than 25 years ago, her path crossed with famous industrialist and founder of Eleganza Industries Limited, Chief Rasaki Okoya.
This amazing and talented woman has continued to shine like diamonds as a wife, mother, and entrepreneur.
Her early years with the Aare of Lagos, saw her raising four wonderful children.
After child-bearing, the ljebu Ode- born beauty, found herself in the manufacturing sector.
Having learnt the ropes under the tutelage of her husband, there was no stopping her. That was just the springboard Mrs. Folashade Okoya needed to soar.
Many years later, she is one of the outstanding business magnates in Nigeria. Her imprimatur is evident in the Eleganza brand.
With over 60 years of experience, Eleganza Industries has invested in machines and molds.
Now at the helm of Eleganza Industries Limited, she oversees operations on a vast 35-acre site near the Pan Atlantic University on the Ibeju-Epe Expressway.
The factory, a state-of-the-art facility, produces a wide range of goods that meet both local standards and international benchmarks.
Folashade Okoya, who turned 47 last Thursday, is proud of Eleganza exploits in the industry. And she minces no words in saying that her birthday anniversary was also the 25th year of her marriage with the business colossus.
The Oluwanishola Estate was opened to all dignitaries from all walks of life in combined celebrations hosted by her husband. In this interview with select journalists, she shares her amazing story that has seen her dividing her time between the Eleganza factory, her four children, husband, and social events.
Interest in industry
I am humbled and at the same time give God the glory. The company has been in existence for almost 60 years. And having learnt under him, I decided to take the bull by the horns to team up collectively and bring it to life. I persuaded him to bring everything back alive. That is why we are in our new location on the Lekki -Epe Expressway.
My husband’s interest in industry is very high. It is all his life. And to enjoy my marriage, I had to join forces with him.
Having an industrialist as a husband has greatly inspired me to become not just a diligent wife, but also a good businesswoman focused on making a positive impact in society.
When I see people using our products like diapers, chairs, or luggage etc., it gladdens my heart that we are making an impact in households across the continent.
That is a key motivation for me to keep on going so that the Eleganza legacy will be kept alive from one generation to another.
Male-dominated world
It is indeed an interesting experience. It has not been easy but I just get on with work and deal with the challenges that come with it. The problems of Forex, power, and customers’ satisfaction cannot be solved with gender preference. My focus is always on maximizing our available resources to deliver first-class quality products, made in Nigeria, at the most affordable prices to meet the demands of our customers.
On transformation of Eleganza
I’ll begin by acknowledging that nothing we have achieved at Eleganza Industrial City without the guidance and support of our Chairman, Chief Razak Okoya. He laid the foundation by building a strong brand name for the Eleganza Group.
Eleganza was mostly known for its cooling boxes and biros back in the day. I embarked on market research to determine new routes for expansion, and came up with several product lines that had not been produced before.
To the glory of God, we produce most of the party and events chairs in Nigeria now.
The events industry is a major market for us, likewise, stadium seats, luggage, school furniture, diapers, sanitary wear and of course, the flagship Eleganza coolers have now been remodeled with more contemporary designs in line with international standards.
Right now, I’m proud that our chair manufacturing line is the biggest product in the group.
This was my idea and baby.
Worldwide
For instance, these plastic chairs, their robustness, elegance, and durability are second to none. With over 200 diverse designs, it is hard to believe these chairs are crafted in Nigeria. They rival global standards. Some feature upholstered seats, adding to their appeal.
We are setting sights on exporting these chairs globally, confident that their distinctive designs and marketability will resonate worldwide. Their affordability is another plus, thanks to locally sourced materials from our petrochemical industry. Available in various colors and shapes, they are perfect for any event, making venues both presentable and inviting.
In addition to our renowned chairs, we offer tables and desks that surpass traditional wood in durability and elegance. They are cost-effective too, thanks to our use of local petrochemical materials, making them accessible for any school. Schools prefer them for enhancing classroom aesthetics and student comfort.
Competition
Our cooling boxes and food warmers set us apart as West Africa’s pioneers. Despite growing competition, our standards remain unmatched. Our coolers are known for their superior durability and cooling efficiency, a testament to our unrivaled experience.
Our casserole sets collection boasts over 150 patterns, combining durability with style, available in various colours. We lead in quality and durability, making us the top choice with no compromise on quality and affordability.
For the little ones, our baby diapers are designed for extended wear without discomfort or rashes, ensuring durability and the utmost care for the baby’s skin.
It has not been easy but with hard work, determination and the grace of God, we were able to scale through.
Challenge
Our biggest challenge is electricity because we strictly operate on generators, which makes life not easy for us.
Among all these challenges, the cost of power generation and the unstable Foreign Exchange rates is among our biggest nightmares.
We predominantly run on diesel generators and thus have had to come up with creative strategies, amongst which is reducing our profit margins in order to remain in business.
For us at Eleganza Industries, we are into backward integration by producing our packaging materials, which has helped us to control our costs significantly amidst all the instabilities.
Provide power for industries first. Once industries have stable and cost-effective power, then we can talk about being the bedrock of the economy.
Production costs
Yes there is a big hope for Nigeria, I joined prayers with my husband that we should industrialise Nigeria, especially our youths, we must teach them how to make good money. Cottage industry in all the states for this youth will be the answer with private finance and trade by barter with some countries to bring their machines in and teach our youths a lot of costs will be down and life will be normal and there will be less crime. That is my daily prayer.
Industrialization
By encouraging our youths, who are in the majority as I have explained, there will be more millionaires in the country and the majority will be happy, cost will be automatically forced down and crime will be a word of the past.
Cottage industry is a minor procedure which does not require major capital or attention and yet it will give a lot of relief to our daily lives.
Sustainability and recycling processes
Recycling will be a lot of help and it makes cost cheaper and easier and it will be this part of the cottage industry for the youth which will make life easier which is my daily prayer. Our products stand out for their excellence, with soaps that are unique, pleasantly perfumed, and produced on state-of-the-art German machines, disposable and reusable plastic cups and plates that are elegant, durable, and available in over 100 shapes, and a range of quality cosmetics for beauty, elegance, and comfort.
Driving force and motivation
Having an industrialist as a husband has greatly inspired me to also become not just a diligent wife, but also a good businesswoman focused on making a positive impact in society.
When I see people using our products like diapers, chairs, or luggage, etc., it gladdens my heart that we are making an impact in households across the continent.
That is a key motivation for me to keep on going so that the Eleganza legacy will be kept alive from one generation to another.
Continuity
We will keep researching, innovating into current market needs and using cutting-edge technology to produce quality, proudly made-in-Nigeria products at affordable prices for our people. Also, all stakeholders will work together to retain its existence and maintain the enviable brand name which our mentor, Chief Rasaq Okoya, CON, had created.
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