Hard Rock Cafe Bets On Nigeria


Hard Rock Cafe has officially launched in Nigeria's commercial capital, Lagos. Located in the heart of the city beside the sea, the restaurant with a swimming pool, three bars and the worlds' famous Rock Shop is expected to draw on Nigerians from the wealthy, middle and elite classes.
Hard Rock Cafe first opened its doors in central London 45 years ago before expanding with restaurants worldwide. It is best known for its collection of music memorabilia that adorns its venues around the world.
According to the Chief Executive Officer for hard Rock Cafe International, Haamish Dodds, Nigeria fell naturally into its expansion plans after successful entries in Egypt, South Africa and Tunisia. However, this may be a difficult time to do business in Nigeria as the country is facing its worst economic crisis for decades as the falling price of oil - the country's lifeblood, has slashed revenues, prompting the central bank to peg currency and introduce curbs to conserve foreign exchange reserves which have fallen to a more than 11-year low. Companies have laid off thousands, cut production and even closed operations as they struggle to get dollars to pay for imported spare parts and raw materials.
     Fashion retailer Truworths said it pulled out of its Nigerian business saying it was unable to import clothes and was struggling to pay rent and access foreign exchange. South Africa's Clover industries some weeks ago said it will no longer invest in Nigeria due to the financial crisis.
     But, the CEO said they are aware of the risks and already, the cafe is already been promoted by top Nigerian artists and celebrities as the newest place to be in the bustling and trendy Lagos.
     Displayed on the walls at the cafe are feature items worn by singers and musicians across the decades including Whitney Houston, Rihanna, Jennifer Lopez and a member of Black Eyed Peas.


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Picture Courtesy: Sharon Ogunleye










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