Business

The 24-year-old. Momodou Saidykhan, aka, Moddz shows why one should never settle with comfort if they want to be successful

The 24-year-old. Momodou Saidykhan, aka, Moddz shows why one should never settle with comfort if they want to be successful

Most of us are told not to go beyond what is destined, as with limited resources, these aspirations will remain unfulfilled. Choosing a comfortable life with a stable job and a house; is what most people settle for, even if it does not professionally fulfil them.

Momodou Saidykhan, aka, Moddz decided to take a leap and not settle in the comfort zone and made a name for himself as a young entrepreneur.

Hailing from Gambia, Moddz moved to the UK at the age of 10. Having a keen interest in the sciences, he also felt an excellent educational degree in his field of interest would shape his career. But while pursuing his degree in Biomedical Sciences from Northumbria University, he could feel the disconnect with the course and his passion. They had nothing to do with each other.

Moddz, like other college students, wanted an extra source of income. He could have comfortably done a part-time job, but instead, he moved from that comfort zone and decided to be his own boss.

He had an idea and a goal – to resell trainers and to generate profits. To fulfil that, he had to understand the gap in the market. Moddz observed that most limited-edition trainers by luxury brands get sold quickly and are not often restocked. He seized this as a market opportunity for his business to grow.

Starting by investing  £3,000 from his student loan, he began his entrepreneurial journey. However, it was not all easy. The rule of demand and supply drove the market. First, he had to acquire the trainers from the unattainable brands at the retail price and resold it for mass consumption to meet the market’s requirements.

When he began, Moddz and his friends camped outside the stores for days to buy the limited-edition trainers at the retail price. This retail price is controlled, and since the products are rarely restocked, the value does not fluctuate. Moddz triples his investments by purchasing the trainers’ limited stocks and holding it till the price increases because hardly brands release new ones.

When Moddz made a revenue of six figures, he featured in  ‘BBC Ones Inside Out’, who aired a short film in early 2020, sharing his journey as an entrepreneur in the resell industry. This recognition did not let him settle. He was determined to go all in and take his brand to the next level.

His ingenious creativity and understanding of the market got him and two other individuals to receive investments from the Pinnacle Group. Together, they created a multi-million-pound brand business, Elusive.

Elusive resells limited-edition trainers and watches in the market. It aims to make luxury goods accessible in the European market and grow to  £17 Billion by 2030. Sometimes Moddz has to be super creative and use the unconventional method to acquire the trainers from unattainable brands. This shows how he pushes himself and refuses to settle even things look complicated. 

Over the four years, Moddz has had a whopping sale. Even though his revenue is grown in this niche industry in the UK, Moddz feels he cannot slack. He is determined to take ‘ Elusive’ to new levels and achieve a very satisfactory company valuation in the next few years.

Topics #Moddz #Momodou Saidykhan

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