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Entrepreneurs are known for their novel styles of showcasing startups or selling unorthodox products from their startups. One of the unorthodox entrepreneurs is Shahin Reza, who turned discarded hair into a flourishing business initiative.
His company, Hair Style Factory, contributed significantly to the export sector and earned him the prestigious Silver Award in National Exports for the fiscal year 2020-21.
Born in the village of Baidanga in Jhenaidah, Shaheen's early dreams of studying at Dhaka University were shattered by the realities of life. Undeterred, he was drawn to business, eventually moving to Dhaka in 2003.
While his initial dream of a university education in Dhaka needed to be fulfilled, the bustling city became the setting for his entrepreneurial journey.
The inspiration for his startup struck in 2004 when he stumbled upon a bag full of hair while living in Mohammadpur. Recognising the untapped potential of discarded hair, he embarked on a business with a meagre capital of just 345 takas and two workers.
Little did he know that this humble beginning would evolve into a company employing over a thousand people.
The turning point came in 2010 when Shaheen received a purchase order from a large wig factory in Bangladesh's Export Processing Zone (EPZ). Formal transactions required him to navigate through business registrations, open bank accounts, and fulfil other legal requirements. Despite the challenges, his dedication paid off, and his business expanded.
Hair Style Factory, under Shaheen's leadership, now boasts 69 permanent full-time workers and approximately 1500 part-time workers across Dhaka and Dinajpur. In the fiscal year 2020-21, the company exported hair worth around USD 8.3 million, earning them the National Export Trophy (Silver). The subsequent year witnessed substantial growth, with exports reaching 12.4 million dollars.
As per the Export Promotion Bureau (EPB) data, Bangladesh's wig export sector experienced a notable 16 per cent increase in the outgoing fiscal year 2022-23, reaching USD 123 million. However, formal businesses tend to face competition from informal businesses, impacting those who prefer legitimate routes.
Shaheen's entrepreneurial journey had its share of challenges, with a dip in export demand from 2013 to 2017. Financial strains and the complexities of the wig business posed formidable obstacles.
Nevertheless, he weathered the storm and overcame external hurdles, including scepticism about the business in its early days.
Shaheen shared that urban areas, particularly Dhaka, yield better-quality hair due to proper maintenance. Riverine regions, on the other hand, contribute more hair supply due to higher occurrences of hair fall. The collection process involves hawkers gathering discarded hair from homes, beauty parlours, and garbage dumps.
Shaheen's Hair Style Factory is located at a six-storey building in Ashulia, which is proof of his aspirations. He seeks both domestic and foreign investments to scale up his operations.
Beyond business, Shaheen has established the Rupali Foundation, focusing on village children's welfare and supporting struggling students. Through his remarkable journey, Shaheen Reza has changed his fortune and become a testament to the fact that determination can lead to big success.