Business
Taofick Okoya and his Queens of Africa dolls have outsold Barbie in Nigeria – intends to capture African market
The dolls go for between 1,300 Nigerian naira (US$6.92) to the special edition 3,500 naira (US$18.63), while cheaper “Naija Princesses” sell for 500 (US$2.66) to 1,000 naira (US$5.32) apiece. Okoya makes a profit margin of about one third, and as well as selling at home, is increasingly shipping to the United States and Europe.
The dolls are so popular in Nigeria, that sales have surpassed those of the traditional Barbie brand.
He plans dolls from other African ethnic groups, and is in talks with South Africa’s Game, owned by Massmart, a part of Wal-Mart, to sell to 70 shops across Africa.
According to Okoya, his mission is to make the Queens of Africa a symbol of hope, trust, and confidence by promoting African history, culture, and fashion. The one person that he really hopes the dolls will have a positive impact on is his daughter.
Source: Reuters
