EGYPT – DressCode, a Cairo-based fashion and lifestyle e-commerce startup has secured a US$250,000 investment from Egypt Ventures.
The online retailer is looking into pouring this investment to expanding beyond fashion and cosmetics, namely vitalizing its home décor offerings.
“DressCode has the potential to make an impact on the Egyptian market,” said Ahmed Gomaa, Chairman and CEO of Egypt Ventures.
“Through combining a scalable, agile business model and partnering with local workshop all over Egypt.”
DressCode claims that since its introduction in 2019, the company has completed 30,000 orders, established a loyal client base, and increased its SKUs from 300 to 6000 in less than a year.
In H1 2020, e-commerce in the MENA area amounted for 22% of overall investment on the eve of the pandemic. DressCode not only stayed alive in 2020, but also saw a steady increase in sales.
“DressCode has the potential to make an impact on the Egyptian market.”Ahmed Gomaa – Chairman and CEO, Egypt Ventures
DressCode has its own product line in addition to being an aggregator of numerous companies, both established and new. The online store is capitalizing on the surge in e-commerce demand by increasing the usage of Egyptian cotton in a variety of items.
DressCode sells 75 percent of its items under its own private label, which relies on 35 local workshops and 1,400 staff to keep a tight supply chain running. From inspiration and design to product availability on the Internet and delivery throughout Egypt, the said chain takes only two weeks.
Founded in 2018 by Mohamed Abdel Dayem and Ali Zakaria, Dresscode is an e-commerce retail platform that sells female clothing, beauty and home products, connecting Egyptian manufacturers directly to consumers.
The startup provides a platform for local fashion brands and designers to market and sell their products, while providing customers with a one-stop-shop for stylish quality products at appealing prices.
The startup is offering experiential retail environments and a well-curated mix of on-trend women’s clothes, from boho dresses, denim, graphics, and evening gowns to shoes and home collection, catering to both young women and teens without breaking the bank.
In August 2020, it raised a six-figure US dollar seed funding round to help it speed its growth by expanding its team and product offering.