Read how Lola Banjo’s Silver & Riley has made its way into Nordstrom and Saks with its high-quality travel products and maintaining a grand vision of supporting luxury for all. Banjo also speaks with theGrio’s Natasha S. Alford about the journey of being a Black entrepreneur.
For Lola Banjo, luxury is something we all deserve.
The founder and creative director of Silver & Riley, a luxury bag and accessories brand, knew from day one that she wanted to create products that looked good while lasting a long time.
Her journey from Brooklyn and Lagos to launching a globally recognized luxury brand is a testament to perseverance, creativity, and an unwavering commitment to quality.
A former management consultant who studied economics and earned an MBA, Banjo traveled weekly for work and one day found herself on a freezing cold flight, where she asked a flight attendant for a blanket but was denied. She was told it was reserved for first-class passengers. The experience sparked an idea.
“I wanted to create travel products that are accessible to everyone and make life convenient when you’re traveling,” Banjo told theGrio.
Those products would develop into the brand Silver & Riley, which produces high-quality handbags and travel bags crafted in Italy, merging functionality with style. For Banjo, when you’re holding Silver & Riley, whether sitting in first class or economy, you feel elevated.
To Banjo, Silver & Riley is more than a brand — it’s a vehicle for change. Born to Nigerian parents, Banjo’s formative years in Lagos exposed her to profound inequalities. These experiences shaped her determination to build a brand that stands for more than aesthetics. “I always questioned injustice,” Banjo told theGrio. “I always questioned … why certain communities had more than others. And so I vowed to be a part of … one of the people not just complaining about it, but doing something to make a change about it. And so I always knew I was going to start a business.”
Her passion for legacy and community empowerment is reflected in the name of the brand. “Silver was my nickname from my mother, who was an entrepreneur herself and called me her silver baby,” Banjo told theGrio. “Riley is the name I’d always wanted to give a future child, representing the legacy I’m building for generations to come.”
Overcoming Challenges
Banjo’s journey hasn’t been without obstacles. As a Black woman in the luxury market, she’s encountered implicit biases that challenge her brand’s progress. “People don’t expect to see you as the face in the space,” she explained. “Any time I think about how hard it is, I think about what my ancestors had to face — our ancestors had to face — 100 years ago.”
Despite these challenges, Banjo remains steadfast in her mission. “I wanted to create a product that can start shoulder to shoulder with heritage brands out there,” she told theGrio, referencing the Rolex watch she saw her mother wear for years.
“Growing up, my mother had a Rolex watch that she was very proud of. And, you know, she invested a lot of money into that. But that was something that she wanted to pass on to me,” Banjo explained. “I want to be a part of a generational story like that, creating pieces that can be a sentimental connection to someone and represent something that transcends just that point in time.”
With this foundation in mind, every Silver & Riley product reflects Banjo’s meticulous attention to detail and passion for quality. The New Yorker Bag, one of the brand’s bestsellers, took four years to design. Banjo describes it as an “iconic bag” that represents “the grit and the beauty and the diversity of the city.”
Equally notable are the brand’s scarves, which Banjo considers works of art. “I design each one, and a lot of them are actually pictures that I’ve taken on my journeys around the world, or they’re actually designs,” Banjo told theGrio. “I’ve been inspired by cities around the world and I put a lot into them.”
The Power of Black Luxury
For Banjo, luxury is more than a status symbol — it’s a statement of worth and empowerment. “We absolutely deserve luxury because it’s something that we’ve been excluded from for so long,” she explained. “I wanted to also work on luxury that was relatively accessible.” Silver & Riley’s holiday sale includes items like their Durban Convertible Crossbody and Clutch for $295 and their Rio Handle Bag is $475.
Banjo’s advice for aspiring entrepreneurs is rooted in resilience and vision. “At the end of the day, you’re going to be faced with adversity and challenges with any business, but you can do it if you really put your mind to it,” Banjo told theGrio.
Silver & Riley stands apart in the luxury market not only for its high-quality products but also for its commitment to community. “We’re more than just a brand; we’re a movement,” Banjo explained. “Our ‘Buy One, Give Five’ program and community initiatives reflect our dedication to giving back and uplifting others, where we give back 5% of our revenue as grants to women entrepreneurs as well.”
As Banjo continues to innovate and grow, her vision remains clear.
“We’re creating a legacy brand that represents us on a global stage,” she told theGrio. “Why not us? When I think about the iconic brands that exist today, they were started by people just like me. If they can do it, so can we.”
Watch the full video interview between Lola Banjo, founder of Silver and Riley, and theGrio’s Natasha S. Alford for more insights on her journey and the inspiring story behind her brand.
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