Opportunity
There are very few spaces where ethnic minorities can unite and engage in meaningful dialogue.
Spaces made by, and for people of ethnic minorities, are not new. Yet social spaces for ethnic minorities such as Eko remain rare in New York. In the heart of an ever-evolving and ever-gentrifying New York, there is a push to create a professional and emotional support network for a familiar, but specific demographic.
Asian, Black/African & LatinX people often feel pressure to hide their personal identities in professional environments and specific social settings, this is often called “code-switching.” The term, coined in the 1950s, was originally intended to describe the way bilingual individuals switched between languages and corresponding identities. It has since evolved to refer to how (often marginalised) people adjust and adapt their behaviour, appearance, and language to avoid highlighting negative stereotypes in school, work environments and specific social settings.
Conforming may mean putting on a persona that’s more ‘compatible’ with the environment – more likable or relatable, and thus more likely to succeed. For people of ethnic minority, code-switching is a means of professional (and sometimes personal) survival. Though this kind of code-switching is often second nature, it can lead to emotional exhaustion and burnout.
Problem
Adam Laniyan saw a niche gap in the social club market to launch a world-class group of social clubs explicitly catering to the needs of people of ethnic minorities. Eko will provide a unique luxury space that intersects art, community, music, finance and food catered to Asian, Black/African & LatinX people.
Market
The last census took place in America in 2020 and the next will be in 2030.
Statistics released from the 2020 census show the following:
The adult population in the United States has grown from 237 million to 261 million during the last ten years. The share of the adult-aged population has increased slightly, from 76% in 2010 to 78% in 2020.
Within that market, our target marget is 21-65-year-olds with incomes of $95,000+ in large American and European cities such as New York City and London. We will target segments with greater loyalty and advocacy, such as younger generations, higher-earning households, and vehicle owners.
Roadmap
Our vision is to achieve the following milestones within the next five years.
- To use the fantastic opportunity to be the first to launch our facilities in New York and London.
- To be an international brand and the leading agent in the private club market for people of colour across the globe.
Company Overview
Adam Laniyan was born and grew up in Lagos, Nigeria, until he was 11 years old. As an art major throughout his primary, secondary and collegiate years, it seemed a natural progression to qualify as an auto designer, architect, or post-production film editor. Still, the allure of technology ended up being too strong, and he started his IT administrator career at a small fashion boutique.
Over the last seventeen years, Adam has progressively shifted from technical administration to business and product strategy. As Adam began to travel the world, it was apparent there was an absence within most of the spaces. This is no knock-on current competitors as they cater to their primary audience. As an avid visitor of high-end restaurants, co-working spaces, and private social clubs living in New York City, Adam has felt a lack of clubs catering to giving people of color an authentic sense of belonging.
The company’s idea started in 2019, but the value of the pandemic cannot be undersold. Then, Director – Adam Laniyan realized the true importance of social connections. That urge to create has compelled Adam to envision a space at the intersection of art, community, music, finance, and food, all amalgamated into one.
Adam and his team are uniquely positioned to solve this challenge with the qualifications and excellence they’ve all brought to their current organizations and the passion they have for their respective communities.
At his side is a phenomenal core management team consisting of 5 Leaders.
Adam Laniyan as the CEO & founder.
