Nigeria - Business creation project

Describe your project or startup in a few words

Introducing 23.50, a bag & shoe brand for modern life. Versatile, stylish, and functional pieces for men & women. Effortless fashion for every occasion, crafted with love and attention made for every occasion. A prefect blend of fashion, form and function

01.01 Describe your project in more detail

Project Title: 23.50 - Versatile Bag and Shoe Brand for Modern Life Project Overview: 23.50 is a innovative fashion brand offering stylish, functional, and adaptable bags and shoes for men and women. Our mission is to provide high-quality, versatile products that seamlessly transition across various aspects of life, from business to casual. Objectives: - Create a comprehensive product line that caters to diverse needs and preferences - Utilize sustainable materials and practices in production - Foster a strong online presence and e-commerce platform - Establish strategic partnerships with influencers, stylists, and industry experts Impact: - Provide consumers with stylish, functional, and adaptable products that enhance their daily lives - Contribute to the growth of the fashion industry through innovative designs and sustainable practices - Create employment opportunities and collaborate with emerging designers and artists I believe 23.50 has the potential to revolutionize the fashio

01.02 What is the main problem you are trying to solve?

Our products are designed to harmoniously integrate functionality, aesthetics, and fashionability, addressing the longstanding issue of compartmentalization in the fashion industry. By seamlessly blending form, function, and fashion, our offerings provide unparalleled versatility, enabling individuals to navigate various aspects of life with ease and style. This holistic approach solves the problem of having to choose between products that are either functional but lacking in style, or fashionable but impractical, ultimately providing our customers with the utmost utility and value.

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

Using 23.50 products offers: - Versatility: Effortlessly transition between different aspects of life with our adaptable bags and shoes. - Practicality: Enjoy functional designs that cater to your needs without compromising on style. - Confidence Boost: Feel empowered and stylish, knowing you're carrying or wearing a product that excels in both form and function. - Timelessness: Our products' sleek designs and high-quality materials ensure they remain a valuable companion for years to come.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Target Audience: Active, urban professionals and entrepreneurs seeking versatile, high-quality bags and shoes that seamlessly integrate into their dynamic lifestyles. This demographic values functionality, sustainability, and style, with a focus on millennials and Gen Z individuals who prioritize self-expression and practicality. Our target market includes busy professionals, students, creatives, and travelers seeking adaptable products that complement their active lives.

01.05 When did you start working on your project?

2023-08-03

01.06 How many other partners are associated with your business venture?

0

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

The business was originally intended to be a sole proprietorship and as such there are no other business partners or angel investors.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

https://www.instagram.com/23.50fusion

01.10 Which industry best describes your project?

j) Public services

02.01.01 My project contributes to the No poverty goal

5

02.01.02 No poverty - Justification

02.02.01 My project contributes to the Zero hunger goal

5

02.02.02 Zero hunger - Justification

02.03.01 My project contributes to the Good health and well-being goal

6

02.03.02 Good health and well-being - Justification

02.04.01 My project contributes to the Quality education goal

6

02.04.02 Quality education - Justification

23.50 supports Quality Education (SDG 4) through various initiatives. We partner with educational institutions to provide skills training and workshops on sustainable fashion practices, promoting knowledge sharing and capacity building. Our ethical manufacturing processes and supply chain transparency serve as a learning model for students and industry professionals. We also collaborate with educators to develop curriculum resources on sustainable fashion, empowering the next generation to drive positive change. By fostering education and skills development, 23.50 contributes to ensuring inclusive and equitable quality education for all.

02.05.01 My project contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification

23.50 promotes Gender Equality (SDG 5) through inclusive and ethical practices. We empower women artisans and small-scale producers, providing fair wages and safe working conditions. Our designs challenge traditional gender stereotypes, promoting gender-neutral fashion and body positivity. We also partner with organizations supporting gender equality, donating a portion of our profits to advance women's rights and girls' education. By fostering gender inclusivity and challenging patriarchal norms, 23.50 contributes to achieving gender equality and empowering all women and girls.

02.06.01 My project contributes to the Clean water and sanitation goal

4

02.06.02 Clean water and sanitation - Justification

23.50 revolutionizes fashion's impact on water resources. We use water-efficient production methods, reducing waste and conserving water. Our sustainable materials sourcing minimizes water pollution, and we partner with suppliers prioritizing water recycling and treatment. We also design timeless, high-quality pieces encouraging customers to buy less, buy better, and reduce fashion's water footprint. By redefining fashion's relationship with water, 23.50 contributes to ensuring access to clean water and sanitation for all, aligning with SDG 6.

02.07.01 My project contributes to the Affordable and clean energy goal

4

02.07.02 Affordable and clean energy - Justification

23.50 promotes Affordable and Clean Energy (SDG 7) in the fashion industry. We invest in renewable energy sources, powering our operations with solar and wind energy. Our sustainable manufacturing processes reduce energy consumption, and we partner with suppliers prioritizing energy efficiency. We also design energy-efficient packaging and shipping solutions, minimizing carbon footprint. By adopting clean energy practices, 23.50 contributes to ensuring access to affordable, reliable, and sustainable energy for all, driving sustainable development and reducing climate impact.

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

23.50 promotes Decent Work and Economic Growth (SDG 8) through ethical and sustainable practices. We ensure fair labor conditions, fair wages, and safe working environments for all employees and partners. Our sustainable business model fosters economic growth, creating jobs and stimulating local economies. We also invest in skills development and training programs, empowering workers to grow professionally. By prioritizing decent work and economic growth, 23.50 contributes to sustainable and inclusive economic development, reducing poverty and inequality.

02.09.01 My project contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification

02.10.01 My project contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

02.12.01 My project contributes to the Responsible consumption and production goal

7 - Strongly Agree

02.12.02 Responsible consumption and production - Justification

23.50 embodies Responsible Consumption and Production (SDG 12) through sustainable fashion practices. We design timeless, high-quality pieces made from eco-friendly materials, reducing waste and pollution. Our circular business model encourages recycling, upcycling, and reuse. We also promote responsible consumption through education and awareness campaigns, inspiring customers to buy better, buy less, and care more. By adopting sustainable practices, 23.50 contributes to a more resource-efficient and regenerative fashion industry, reducing environmental impact and promoting sustainable development.

02.13.01 My project contributes to the Climate action goal

5

02.13.02 Climate action - Justification

23.50 takes Climate Action (SDG 13) through bold sustainability initiatives. We reduce gas emissions by using renewable energy, carbon offsetting, and efficient transportation. Our sustainable materials sourcing and production processes minimize waste and pollution. We also design climate-resilient products, educate consumers on sustainable fashion practices, and advocate for industry-wide climate action. By prioritizing climate mitigation and adaptation, 23.50 contributes to limiting global warming to 1.5°C, protecting the planet for future generations.

02.14.01 My project contributes to the Life below water goal

5

02.14.02 Life below water - Justification

23.50 supports Life Below Water (SDG 14) through sustainable practices. We use eco-friendly materials, reducing microplastic pollution and harmful chemicals. Our supply chain partners adopt responsible water management practices, minimizing wastewater and protecting marine ecosystems. We also design ocean-friendly products, promote beach cleanups, and support marine conservation initiatives. By prioritizing ocean health, 23.50 contributes to preserving marine biodiversity, reducing ocean pollution, and protecting the delicate balance of our planet's ecosystem.

02.15.01 My project contributes to the Life on land goal

5

02.15.02 Life on land - Justification

23.50 promotes Life On Land (SDG 15) through sustainable practices. We source materials from environmentally responsible suppliers, reducing deforestation and habitat destruction. Our sustainable agriculture practices promote soil health, biodiversity, and efficient water use. We also design products with recyclability and biodegradability in mind, reducing waste and pollution. By prioritizing land stewardship, 23.50 contributes to preserving ecosystems, promoting reforestation, and protecting biodiversity, ensuring a healthy and thriving planet for future generations.

02.16.01 My project contributes to the Peace justice and strong institutions goal

5

02.16.02 Peace justice and strong institutions - Justification

02.17.01 My project contributes to the Partnerships for the goal

1 - Strongly Disagree

02.17.02 Partnerships for the goal - Justification

Here's a professional explanation of how your fashion business, 23.50, can contribute to Partnerships for the Goals (SDG 17), within 1000 characters: "23.50 embodies Partnerships for the Goals (SDG 17) through collaborative sustainability efforts. We partner with suppliers, NGOs, and industry peers to drive positive change. Our cross-sector collaborations promote knowledge sharing, innovation, and scaling of sustainable practices. We also engage in policy dialogue, advocating for sustainable development and circular economy frameworks. By fostering inclusive partnerships, 23.50 contributes to mobilizing resources, expertise, and collective action for sustainable development, ensuring a prosperous future for all.

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

7 - Strongly Agree

05.02 The product/service we envision creating represents an entirely new type of product/service.

5

05.03 The product/service we envision creating could be described as a new technology.

4

05.04 The product/service we envision creating is an improvement on an existing product or service.

7 - Strongly Agree

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

7 - Strongly Agree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

5

05.07 The product/service we envision creating is a new version of an old product/service.

4

05.08 Justification

23.50 drives innovation in the fashion industry through: - Adoption of cutting-edge technologies like 3D design and digital printing - Development of sustainable materials and production methods - Integration of circular business models, encouraging recycling and upcycling - Collaboration with startups and industry peers to develop new technologies - Investment in research and development, pushing the boundaries of sustainable fashion - Encouragement of experimentation and risk-taking, fostering a culture of innovation - Development of innovative products and services, challenging traditional fashion norms By prioritizing innovation, 23.50 contributes to the development of new technologies, processes, and business models, shaping the future of the fashion industry and promoting sustainable development.

05.09 Who are your main potential competitors and what makes you stand out from them?

Local artisanal bag makers: Many local artisans in Sub-Saharan Africa create handmade bags using traditional techniques and materials, which could compete with your business. Informal market vendors: Street vendors and market stalls selling affordable, imported bags could be competitors. African fashion brands: Emerging fashion brands in Sub-Saharan Africa, like MaXhosa by Laduma (South Africa) or Studio 189 (Ghana), may offer bags as part of their collections. International brands with local presence: Global brands like H&M, Zara, or Levi's may have stores or online presence in Sub-Saharan Africa, offering bags as part of their product lines. Local manufacturers: Companies like South Africa's Bagmaster or Nigeria's Bagco may produce bags for various industries, including fashion.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

I would love and I am about to make active steps to venture into this.