Suvenia.com

Create, Buy & Sell Personalised items
Startup name
Suvenia.com
Founding date
September 2016
Incorporation
Yes
Total team member
8
Startup stage
Paying users
Category
Consumer
Sector
E-commerce & online marketplaces, Communications & media
Product usage or interact
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
City
Lagos, Lagos, NG

Elevator pitch

Suvenia.com is a website that allows individuals, influencers and brands to create, buy or sell personalised items in Sub-Saharan Africa. Our goal is to make Suvenia.com a platform that allows people create products at the speed of thought.

Team

Adeniyi Jaiyeola

hrives in a team where challenges are solved through the methods of research, analysis and evaluation; where there is opportunity for service, personal growth and interdependence that adds value to the organization and the customers

Damilare Ogunleye

I am a communications strategist with more than 8 years of work experience. My specialties include Brand positioning, consumer PR programs, media relations, thought-leadership programs and church brand development. Co-founded an offline promotional products business with over $2.2m revenue in 4years

Olufikayo Olabiyi

Procurement Specialist with a strong background in production planning and management. Success in optimizing manufacturing processes and capitalizing on cost saving opportunities.

Oluwafemi Ojumu

A Chemical engineer by training with a progressive career in a Multinational business environment for about 7 years, 3 of which have been in managerial positions. An aggressive deliverer of objectives and goals within deadlines and targets given for them. A fervent learner that looks to pick up s

Business model

Target customer

Technology savvy individuals, brands & influencers residing in Africa

Customer acquisition strategy

Merchandising-Retailing-Licensing-Sponsorships

Revenue model

Sales Margin:
- On products sold to businesses

- On products sold via retail and suvenia.com

- We charge design/creative fees for offline bulk purchases.

- We have recently incorporated promotions charges for store into www.version2.suvenia.com

- Revenue split on sales of licensed merchandise

Market info

Market size

$ 2,000,000,000

Competitors

Competition

Cafepress, Teespring and Spreadshirt are not suited for Nigerians, and most Africans. A few Nigerians use them, but they are largely Nigerians/Africans who have lived in the United States or Europe.

Printivo is Nigerian, and it's leading online printshop. They also recently launched a kind of solution like ours. However, the UX/UI they have overlayed to achieve this isn't great. They are also expanding largely on their own production capacity, and might pose a challenge for them to scale.

KPI's

  • 2,200,000 Revenue
  • 50,000 Community
  • 560 Users
  • 30,000 Average Monthly Revenue

Startup traction

Revenue:
We have run the parent merchandising business for the last four years generating revenue in excess of $2.2m in that time space. This lends credence to the strength of the founders as well as ability to push within our networks

Extended User Community
Presently, key communities using Suvenia.com platform are
- Harvesters International Christian Centre - A church of over 15,000 members (http://www.harvesters.suvenia.com)
- Leap Africa - One of the biggest and most influential NGOs in Nigeria (http://www.suvenia.com/leapafrica
- Cancer Aware Nigeria - A key NGO fighting cancer in Nigeria (https://www.canceraware.org.ng/shop)
- Dogo Gang - An interest group focusing on fried plantain with over 20k instagram followers (www.instagram.com/dodogang_ , www.suvenia.com/dodogang)

Other information

- AVDD GEM Business Plan Competition Grant Winner - $25k
- Startup Friday Lagos Remita Grant Fund - $3k
- Tony Elumelu Entrepreneur Grant Fund - $5k

Publication date: 22 September 2017