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IO Furniture w w w . i o f u r n i t u r e l t d . c o m
Interior wellbeing
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Manufacturing
I
O furniture was founded in 1987, as Interior Options Ltd. It began its life as an interior design consultancy service and was one of the few companies of its kind.
IO Furniture is the leading furniture manufacturing and interior design company in Nigeria, and lead players in an industry worth $17 billion. We take a look at the company and some of the reasons behind its success, including the strengths of their CEO, Munira Shonibare.
As IO grew it discovered a lack of well-established local furniture manufacturing companies that could guarantee the necessary quality standards and the demands of its customers. The logical step was to start making its own, and so in 1992 the manufacturing arm of IO Furniture was born. IO Furniture’s initial clientele were in the oil industry. In 1997 they expanded to the financial sector, office accommodation and large-scale residential properties. The company underwent another restructuring in 2008 when it became truly international, with a world-class manufacturing operation and showroom and a technical management agreement with a successful Italian furniture manufacture company.
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IO’s roster of high profile clients now include leading multinationals such as Mobil, Agip and Saipem and hotels such as Transcorp Hilton, Four Points by Sheraton, Ibis and Wheatbaker.
Strong leadership
IO furniture was founded and is continued to be led by Munira Shonibare. Shonibare started out as an interior designer, graduating in industrial design (textile design) from the Ahmadu Bello University Zaria Kaduna State, Nigeria in 1980. She went on to obtain a post graduate degree in interior designs at the Instituto per Arte E 11 Restauro, Florence, Italy in 1984 before founding Interior Options in 1987.
Shonibare has led her company to become industry leaders for high-end luxury furniture and accessories across all market segments. She employees 150 staff and runs a world-class showroom in Lagos, from where she serves her wide range of clients. She has also forged strong links with the design industries in Italy, the UK, Asia and across Africa. Such success is made all the more remarkable considering Shonibare didn’t plan on the life of an entrepreneur. Speaking to Nigeria’s The Guardian newspaper she says that “truthfully speaking, I never envisaged a career as an entrepreneur because I have always imagined a career as an interior designer as this has always been my primary passion.” Often creative individuals don’t have the other skills that are needed to run a successful business, but Shonibare appears to buck that trend. Shonibare also has strong opinions on the potentially difficult subject on what it means to be a successful businesswomen in Nigeria. Her interview with The Guardian is prefaced by this striking quote: “As a female business owner, you would encounter all forms and manner of harassment, but you must ensure you rise above it. The odds are stacked against
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women naturally from a sexist society, why increase it? In my opinion, it is foolish for women to think they are equal to men; we are actually superior to men.” Speaking of a lack of education in Nigeria when it comes to its strong leaders, Shonibare goes on to say that “If you ask the average 15 or 16 year old who Obafemi Awolowo or Ajayi Crowther was, they have no idea. As a female entrepreneur, you have to work twice as hard as the next man just to prove yourself and to be taken seriously.”
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As a female business owner, you would encounter all forms and manner of harassment, but you must ensure you rise above it
Investing in Nigeria’s youth
Shonibare’s strength of mind has led her to become seriously involved in projects that help the youth of Nigeria gain a sense of purpose. Manpower is a great problem in Nigeria, she says, elaborating that “we have to invest in our people. Even with all the infrastructure and technology in the world, if you do not possess skilled, informed, educated, focused and purposeful people to drive the machines and processes, it is all useless. The right set of people is very important as they can make or break your vision. Truthfully, we have failed as a nation because we have refused to invest in our youths. Driving home daily, I see hordes of young people and I can tell from their body language that they have no sense of direction or purpose.”
Manufacturing
Shonibare’s passion for helping with this problem has resulted in her volunteering at SOS Charity, becoming a mentor, lecturer and facilitator at the Fate Foundation and a speaker at Junior Achievers. IO Furniture have set up a youth empowerment program and Shonibare also serves as an Advisory Board member and Mentor of a structured mentoring programme for ambitious young women called WISCAR (Women in Successful Careers).
Wellbeing
Shonibare’s philosophy of life also comes into play when it comes to the philosophy of her business. She also tells The Guardian that “I had always thought security was my priority, because I felt I should be financially independent and secure but my priorities turned out to be wellbeing, love of family and the importance of relationships and then security was last. With that, our philosophy at IO Furniture is making sure that we hone our interior design skills to ensure that people experience the maximum
wellbeing which will in turn create equilibrium in the home as well as the work environment.” IO Furniture is now a leading player in an industry worth $17bn and earmarked by Nigeria’s Bank of Industry as an important potential source of employment and revenue as demand increases. It would seem that Shonibare’s unusual take on things has much to do with IO Furniture’s success.
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iO Furniture LTD 6/8 Industrial Street Ilupeju, Lagos. Tel: +234 (0) 706 300 0500 Email: service@iofurnitureltd.com
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www.essentialbusinessmag.com ŠEssential Business Magazine 2016