Fashion usually starts with sketches and fabric, but for Sulaimon Ayoola Monayajo, it began with spreadsheets. The founder of Sly Monay Fashion built his brand like a business from day one. Armed with a background in accounting, economics, and an MBA from Cardiff University, he treated every design like a case study.
When he decided to step into the world of fashion, he carried those same principles with him, using the discipline of balance sheets and the logic of economics to build a design house that has a combination of both creativity and business.
“Every piece has to pass a profitability test,” he says with a grin. It is a rule that has guided him from the start. For Monayajo, fashion has to make sense in the books too. So while others were sketching without limits, he was running numbers on cash flow, margins, and scaling possibilities.
“Sometimes your creative impulses fight with reality,” he admits. His solution was to prototype endlessly, test the market with pre-orders, and work closely with trusted ateliers who understand the brand’s finish. If he needs to tweak a design slightly to make it more practical, he does it without hesitation.
The early years of Sly Monay were especially tough. Financing was limited, suppliers fell short, and the market was not always convinced. But conviction kept him going. “Even when only a few people wore a piece and lit up, it reminded me of why I started,” he says. Family played a big role too, offering encouragement and small but important support when doubts were loudest.
That persistence has paid off. Today, over a decade later, Sly Monay has grown into one of Nigeria’s most admired labels. Known for its sharp, modern silhouettes, the brand has carved out a reputation for making people, in Monayajo’s words, “feel seen and powerful.” For him, that phrase is his identity, confidence, and presence. “Clothes should respect who you are and help you walk into any room knowing you belong,” he explains.
Even with opportunities abroad, Monayajo chose to grow his brand in Lagos. For him, the city is part of his story. “Building from Lagos is an act of cultural affirmation,” he says. “Lagos gives us raw energy, rich craft traditions, and a story that resonates globally.” This also shows his commitment to creating jobs, preserving craft, and proving that world-class fashion can rise from Africa without compromise.
That same commitment drives his investment in training young designers and supporting artisans. He sees it as both a responsibility and an opportunity. “The future I want is one where Nigerian fashion is recognised for excellence, where creative careers are viable, and where traditional craft meets modern processes to become a scalable asset,” he says. He imagines a future where more designers export, more studios employ artisans, and the fashion industry plays a bigger role in culture and jobs.
Recognition has followed his efforts. He has received the African Achievers Award for Creativity in Fashion, the Africa CEO Merit Award for Fashion Innovator of the Year, and was named among the 100 Leading Most Trusted and Innovative Fashion Brands by African Brands and Silverbird TV. For him, these awards are more about accountability. “They confirm that the creative risks and discipline resonate beyond our immediate circle. They also push me to maintain standards, scale ethically, and remain accountable to the artisans, trainees, and team who make the work possible,” he says.
For the young Nigerians who admire him, Monayajo’s advice is practical and unfiltered: start small, learn the business basics, test your ideas before going big, collaborate, and be consistent. “Systemic challenges exist, but they don’t stop those who plan and execute,” he insists.
Looking ahead, his dream is to build institutions; training programmes, sustainable supply chains, export-ready studios, that can employ artisans at scale. “I want to build a brand that represents the best of contemporary African fashion, commercially successful, creatively fearless, and socially responsible,” he says. “And I want to help the next generation do even better.”
