Your headquarters are in Lucerne, Switzerland, and you have operations in Dakar. When did you start, and why did you choose to name your group Akoussa?
Pape Diop: Akoussa is an African name originating from Ghana, which refers to a washcloth made from the fibers of the baobab fruit. It is a plant-based, ecological, and local product since it comes from the iconic tree of Africa. Infused with vetiver, it leaves your skin incredibly clean, soft, and fragrant. To answer your first question, I started the perfumery in Senegal in 2011. We then looked for a name that truly represents the country, and we chose Akoussa, which many people find beautiful. Finally, if our headquarters are in Switzerland, it is to facilitate and accelerate payments to suppliers.
How would you define your core business?
Our core business is retailing perfumes and cosmetic products. We also have the diplomatic shop in Senegal, meaning the duty-free store in the former shop run by a Frenchman since 1970, which we took over. The Ministry of Foreign Affairs and Customs, looking for a reliable buyer, asked us to make it a chic and attractive place. Given that the United Nations headquarters is relocating from Ethiopia to Senegal, to Diamniadio, with nearly 3,000 employees, it is a promising venture. Stable Senegal has the most diplomats of any African country. Therefore, all suppliers want to work with us and eagerly await this opportunity.
Large African perfumeries are still rare, aren't they?
Yes, but Senegal is favoring nationals, whereas this sector was previously dominated by foreigners. Certainly, they brought in foreign currency, but they did not have social action, whereas we do. For example, we provide breakfast to sick children, but we do not advertise our actions everywhere. Don't they say, "Goodness doesn't need ears"? Moreover, it's a family tradition because my father, who was Muslim, helped everyone, including Christians. Senegalese authorities like Customs, who allocate duty-free contracts, are sensitive to this social approach and, with equal skills, prefer to grant them to Senegalese.
Where is your store located in Senegal?
We have a perfumery located in Point E, which means "the European point." The choice of location seemed ideal to me because it is a highly frequented area, a business district where personalities like former President Abdoulaye Wade reside, as well as all senior executives who have worked for international institutions. When these people stroll around and see a perfumery with a French look, they say to themselves, "Finally, we have a perfumery in Senegal." This two-level boutique covers 400m2, and in 2024, we will open another one of 180m2 in a new shopping center near downtown Dakar, as well as a third one of 200m2 in Saly, in another shopping center. It is a promising location as a diplomatic village will be built nearby, and United Nations personnel are expected to reside there. We are also negotiating to open a boutique in the United Nations headquarters itself so that employees can shop during their break time.
How much is your investment for these different points of sale?
To date, we have invested 1.4 million euros, with goods representing 600,000 euros, which is considerable. But Akoussa's idea is to genuinely promote perfumery in Africa, which has been under-supplied until now, even though Africans are excellent customers. A market study I conducted in France indicates that they buy abundantly from stores like Sephora or Marionnaud, and a large proportion of them provide their families and friends in Africa. We can consider that 80% of Senegalese people buy their perfumes in France, and they are willing to pay for it: we currently sell more expensive perfumes than cheap ones. We spend about 300,000 euros on supplies every two months. Some people here spend 500 euros on perfume per month, and even up to 1000 euros per month for niche perfumes, especially to give them as gift sets, which has become a custom in Senegal. And we enhance these gift sets with personalized small gifts from Akoussa. In Africa, perfume is something luxurious that shows the value placed on the person receiving it. What is called "niche perfume" is more expensive than another perfume – about 300 euros – because it is made in limited quantities with superior quality essences. It appeals to a clientele looking for rare, unique products.
What percentage does niche perfume represent in your turnover?
In terms of our sales, it represents 65%. Marly, Initio, Xerjoff, Casamorati, or Clive Christian, which are niche brands, could surpass premium brands. In total, we have more than 75 brands, and we are number one in West Africa for niche perfumes, with almost all the major brands.
In Senegal, we are fortunate to have a market open to the world because there are Europeans who love European fragrances and Africans who love rare and very luxurious perfumes with more oriental notes. There are many billionaires in Dakar. We sell the most expensive perfume in the world, Clive Christian, which costs 600 euros and which our customers buy mainly as a gift. We even have a dedicated service that delivers the perfume accompanied by a bouquet of flowers offered by the house.
Do you have other activities in duty-free?
Nowadays, we are the only ones in the duty-free niche, and we are also a ship chandler. We sell supplies for all boats arriving in Senegal: spare parts, paint, food, fuels, various accessories, etc. The harbor master notifies us of each boat arrival and the refueling needs. These are very large commercial operations: imagine a cruise ship with 3,000 passengers, it is considerable. To practice this profession, you need a license, which the Akoussa group has. We also have a license for supplying embassies, which quarterly communicate their needs to us. I then take care of the purchases in relation to Customs, which grants me an import right for the necessary amount, and then I store the received containers in my warehouses. All these duty-free sales activities – cigarettes, spirits, food, perfumes, hygiene products, etc. – represent 60% of our turnover.
What are your prospects for 2024?
The Ministry of Foreign Affairs has asked us to create a duty-free store of 500m2 even more luxurious near the ambassadors' residence in the Fann district. If we have been granted the duty-free, it is not for 100m2 stores, we must be more ambitious.
Senegal is aiming higher. And as I told you, we also want to open a store in 2024 in the United Nations building in Diamniadio. We will also supply the boutique of the US Embassy in Almadies, and finalize our project downtown. But in the longer term, my goal is to create about twenty stores in Africa in countries that do not have access to perfumery.
Interview conducted by Andju Ani
