Temitope Mayegun is the CEO of Avila Natural products, the largest natural skin and hair care brand in Africa that produces products using organic and natural ingredients. Mayegun holds an accounting certificate from the University of Lagos. In this interview with BUNMI BAILEY, she discusses her beauty business, the rebranding of her products and the natural beauty industry as a whole.
Tell us your entrepreneurship story: how you started and the journey so far?
Well, my entrepreneurship journey began in 2015, getting certified in natural skincare in the United States of America, before we set up the manufacturing company, to securing certifications from regulatory bodies before commencement of operation, to putting together an efficient team to work with in the various departments, to selling our first batch of products and expanding now to over 200 products currently under our brand. In summary it has been a blend of sweet, delightful, challenging, yet rewarding journey.
What really inspired you to set up this skincare business?
I decided to venture into this business when I discovered the alarming rate at which chemical and synthetic products were flooding the market. And there was the propelling force for me to provide an alternative natural skin and hair care products for consumers without them breaking the bank.
How much did you start with and how big have you grown since starting?
Apart from the administration and factory spaces as well as the National Agency for Food and Drug Administration and Control (NAFDAC) certification fees, we actually started with N30, 000 worth of coconuts; and we have grown to a multi-million naira business since then.
The natural skincare beauty industry is fast gaining traction. How lucrative is the business?
I agree with you on how large the industry has grown and it is a welcome development. Competition is a good ground for business to thrive, being the largest natural skin and hair care brand in Africa; it would be fallacy to say that we are not enjoying the profit dividends, so allow me say that it is indeed lucrative.
The industry seems to be getting saturated, owing to the number of people shifting towards it. What future do you see for this space in the next ten years?
I believe that with proper standardisation and effective control from regulatory bodies, government and commercial institutions, there will be great room for improvement giving Nigeria at least 30 percent market share of the world beauty and cosmetics manufacturers annual earnings.
What challenges do you face?
We face challenges like inaccessibility to adequate funding for more sophisticated up-to-date machineries, efficient and trustworthy manpower, raw materials sourcing from farms locally and internationally, etc.For every business the list can be endless but you must find ways to rise above all.
What keeps you passionate about helping people look beautiful?
Over the years, having seen the aftermath of damaged skin and hair from various effects, such as over-the-counter-chemical products, surgery scars, acne, stretch marks, hair loss, just to mention a few cases our products address, there’s no greater joy than to restore smile to these people. Above all is the divine inspiration to continue to innovatively create new products that continue to address human general beauty issues.
What areas of concern do you see in this industry?
Well, there are a lot of damaging fake skin care products and a lot of makers hiding under the umbrella of organic and natural skincare to produce harmful products. This is hugely saddening, I must say.
Where do you see your company in 5 years?
We see a more accepted brand globally expanding beyond our four-continent current reach. We see a brand that would bring in foreign investors and researchers alike, recognisable by international bodies and placing Nigeria on the world top beauty brands lists.
What is your greatest strength? How does it help you as a Skin Care Specialist?
My greatest strength lies in divine help, positive feedback and acceptance from hundreds of thousands of buyers and the financial reward is an addition.
How much do you think the industry is worth?
According to reports, the global cosmetic products market was around $ 532 billion in 2017 and is expected to reach approximately $863 billion in 2024 with an inclusion of the Nigerian beauty market in 2018 estimated at N500 Billion annually.
You are currently rebranding one of your products, can you tell us why and how?
This is borne out of the desire to serve the buyers better, not forgetting that we are penetrating various countries worldwide and it is therefore essential that we meet the global standard of packaging. It is also a general standard that international beauty brands over the years continue to embrace, so we are not far from home by rebranding the general “Avila Natural Outlook”.
