Why I am into luxury brands– Victor Okoli, Chairman/CEO, Silky Touch Emporium

Fashion is no longer synonymous with women only.
These days men too are making some fashion statements even at a very high cost. Ogbuefi Victor Okoli Chairman/CEO, Silky Touch Emporium,  is one man that has provided men with not just fashion but luxury fashion for the past 32 years. His fashion outfit, is synonymous with luxury fashion brands for men who identify with fashion. He talked about men and fashion generally.
What defines luxury?
The trick is that luxury is at least two things: It’s a concept whose meaning which we can debate and it’s a business sector which is extremely successful. The problem is that the more successful the sector is becoming, the further it departs from the concept.
What makes a good fashion brand?
For me a good fashion brand brings timeless products that do not necessarily follow flows of fashion. I like brands and products that you buy and keep for a long time, products that tells a story and are produced in a responsible way.
You talked about the new luxury in China. What do you mean by that?
I’ve only been in China for three to four years but in this short time I’ve seen how quickly the market changes. Something like 10 years ago, fashion consumers in China looked towards the west for inspiration. Most people didn’t have means to buy big labels so they were buying cheaper, maybe not that well-designed and well-produced products. Now when the wealth and taste of fashion in China are increasing, people started to think that wearing brands like Gucci, Prada, Louis Vuitton means expressing that you’re moving up. But slowly I think it’s changing and Chinese fashion consumers are moving towards understanding that they can actually use fashion to express their own unique identity, not just to label themselves as well-offs. This is where the new luxury comes in. People are looking for products that really express their unique culture identity and that they have evolved taste. They have money to spend but they are picky about where they spend it on. They are looking for unique products that nobody has in the market where you can get everything, copied or non-copied. In China, it’s really challenging to find something unique that nobody else has. The fashion pioneers in China are looking for those products: unique, maybe even China designed, one-off products that they can show to their friends and say “I’m unique cause I’m wearing this”. This is what I called “the new luxury”.

How long do you think it takes an individual to find their personal style?
Finding one’s style may vary for each individual. I’ll compare it to finding a life mate; you may have to kiss a few frogs till you find who is perfect for you but in the world of fashion it gets even more fun because as one matures and goes through the different changes in one’s life, so does one’s sense on style. I know what I like but recently, I have toyed with pieces I would have frowned upon just a few years ago. All I’m saying is there is no time frame for developing one’s style; it hopefully comes as one matures.  As we evolve, so does our taste and we should not discourage that growth?
How does a large company like yours stay innovative and creative? 
It starts with having a real culture of creativity. We hire people who are, broadly speaking, interested in creativity. They don’t necessarily have to be into fashion. And some people are not creative themselves, but they are fundamentally people who are very curious and open minded, and who like to discover new things.

Why into luxury brands?
It’s a kind of philosophy that I have. I don’t want to swim in a crowded pool. I don’t want to stay where others are. Like I said earlier, I knew it would take longer time to succeed, but it is more realistic. It’s like nature; you want to choose the kind of person you want to be. Luxury is not only when something is very expensive. I may give you N10,000 and give myself  N10,000 and say let’s go for shopping. You don’t want to waste your time looking for exclusive things, you want to spend your 10,000 buying five blouses. I may be prepared to spend my own 10,000 buying few. Its like a quality person, you want to have few good ones instead of 20 bad ones, so it’s a question of conviction. It’s a lifestyle thing. It is not a must buy. It is like a success story; something to pat yourself at the back to say, you have really done well.

Would you say Nigerians have embraced luxury things?
Yes, Nigerians are flamboyant people; they love the good life. If you look at our streets, the kind of cars we drive, the kind of homes we live in and how we dress up when we come out in public, yes we are. We just need an environment that will actually appreciate that our luxury, and to man it together. What I am saying is that we live a luxury life but the environment is bad. That’s why we are asking the government in charge to make the environment look luxurious. The environment should be better organised, well built up and well maintained so that we can show our luxury cars and houses. I don’t believe that we should take gold to the swine.
It starts with having a real culture of creativity. We hire people who are, broadly speaking, interested in creativity. They don’t necessarily have to be into fashion. And some people are not creative themselves, but they are fundamentally people who are very curious and open minded, and who like to discover new things.
What is style to you?
In my view, style is personal. It is individualistic. The way you choose to do your thing is your style.
What are the best colours for men?
Best colours for men still remain things in the neighbourhood of navy blue, in the families of gray when you talk of jackets. But when you talk of accessories, sometimes it could be bright enough to spice it up a little. So you can see a man on a navy blue suit, sky blue shirt, yellow or red tie. So you see the elegance in it. It is not the other way round; he shouldn’t wear a red suit and a navy blue tie.
What’s your advice for retailers?
When you’re trying to develop a loyal fan base, integrity and trust are what matters. However, keep in mind: integrity does not mean perfection.
Any final words of advice?
Luxury is probably the most creative, most international and most fascinating activities out there…but I entered there by chance, and today there are more candidates than jobs available. And this is a very demanding industry, in terms of travel and hours. But if you are well prepared, you can do very well and have a fascinating career.