Polaris Bank has reiterated its commitment to the promotion of Small and Medium Enterprises, SMEs, with special attention to Nigerians operating in the beauty and wellness industry in the country.
Making this revelation, the Managing director/CEO, Polaris Bank, Mr Tokunbo Abiru, stated that the Bank plans to support the 2020 Beauty Souk; the niche fair for beauty enthusiasts and businesses.
The one-day business fair put together by Eventful Limited scheduled and scheduled to hold in Lagos, according to the bank, will provide a platform for over 100 SMEs in Nigeria’s beauty industry to showcase their creativity and economic potentials.
Providing lucrative opportunities for beauty businesses from across Africa and beyond, the Nigerian beauty market is touted to have experienced rapid and dynamic growth in the last few years.
According to Euromonitor International, the market is currently worth an estimated $3 billion and its value is likely to rise to keep pace, with an increasing number of working women with disposable income; as well as sophisticated youth searching for new ways to care for and present themselves.
Strategic Brand Management and Communication, Nduneche Ezurike, while stressing on Polaris Bank’s sponsorship, noted that Nigeria’s beauty sub-sector has huge and untapped potentials capable of reducing the rate of unemployment in the country.
He said: ‘‘Polaris Bank will be sponsoring one of the best and biggest beauty fairs in Nigeria. The fair is curated to facilitate exhibition, celebrity makeovers, and masterclass sessions for beautypreneurs; as well as promote sales of beauty essentials and accessories at discounted prices.’’
The convener, Eventful Limited, is a pioneer of the events management business in Nigeria and the organiser of four of the most sought after industry fairs in Lagos namely: The Beauty Souk, The Food Souk, The Fashion Souk, and The Street Souk. This year’s Beauty Souk heralds the 4th edition of the event.