GTCO Fashion Weekend: Renee Morris Urges Fashion Entrepreneurs to Leverage AI, Prioritise Profitability
American businesswoman and President and Chief Executive Officer of Uncle Funky’s Daughter, Renee Morris, has urged Nigerian fashion and lifestyle entrepreneurs to leverage artificial intelligence, professional branding and sound financial management to build competitive and profitable businesses.
Morris gave the advice while delivering the first masterclass on Sunday, the second day of the just-concluded GTCO Fashion Weekend in Oniru, Lagos.
Drawing from her experience in corporate consulting and entrepreneurship, she shared practical strategies for building sustainable brands, attracting customers, improving market positioning and navigating the challenges of business growth.
Morris, whose company is a natural haircare brand celebrating curls and textured hair, said entrepreneurs must first understand the business, industry and consumers they intend to serve before committing their resources.
She recalled that one of her mentors had advised her to consider her knowledge of a proposed business and its industry, as well as her passion for the venture, before taking the entrepreneurial plunge.
On the importance of professional presentation, she said her company had invested in upgrading its materials, branding, packaging and marketing to strengthen its market appeal.
According to her, artificial intelligence has created opportunities for small businesses to improve their professional outlook and compete more effectively with established brands.
“It is easier now than ever with AI to succeed as entrepreneurs. You now have the opportunity to look bigger than you are with AI and a professional touch,” she said.
She, however, stressed that beyond attractive packaging and branding, entrepreneurs must demonstrate a genuine understanding of their customers’ needs and experiences.
“You must show up in a way that makes customers feel you really thought about their experience in your small corner, planning the product,” she advised.
Morris also highlighted the importance of storytelling in brand development, explaining that social media had helped her company educate consumers, communicate its identity and build stronger relationships with its target market.
She identified entry into the national retail market as one of the most significant decisions that transformed her company’s business trajectory, giving it greater credibility and market visibility.
Addressing the distinction between business growth and profitability, Morris cautioned entrepreneurs against focusing exclusively on expansion without paying attention to their financial performance.
She advised business owners to understand their numbers, monitor net profit per unit and ensure that their growth strategies translated into sustainable returns.
Morris also encouraged entrepreneurs to embrace calculated risks, noting that business opportunities often required the courage to act on ideas and the willingness to make difficult decisions.
“There are so many opportunities. Listening is key when you are inspired by an idea. Know your numbers in the business,” she said.
On career transitions, she urged professionals considering entrepreneurship or a change of direction to undertake honest self-reflection and establish what they wanted to move away from and what they hoped to achieve in their next phase.
Morris, who has previous professional experience at A.T. Kearney, Coca-Cola and GE Capital, holds a Bachelor of Arts degree in Accounting from Dillard University and an MBA from the Ross School of Business, University of Michigan.
She encouraged participants to combine passion, preparation, innovation and financial discipline in building businesses capable of achieving long-term growth and profitability.
