Dresscode, an e-commerce retail marketplace has raised a 6 figure Seed funding round, led by Egypt Ventures.
- Dresscode’s aim is to connect Egyptian manufactures to the consumers directly, and are working to fulfill a gap in the market for affordable high fashion.
- They provide a platform for local fashion brands and designers to market and sell their products, adding to their income streams and helping them grow their business. The company’s business model also depends on third party manufacturers which contributes to job creation across the entire fashion supply chain in the Egyptian market.
- The funds will be used to maintain growth, by expanding the team, the product offerings, and infrastructure to start offering next and same-day deliveries to customers.
Co-founder and CEO, Mohamed Abdel Dayem said, “Egypt is a huge market and the textile industry is one of the highest contributors to Egypt’s GDP. We are trying the solve a problem that many manufactures, brands, suppliers face, which is how is to reach the consumer.”
Dresscode, the Cairo-based e-commerce retail marketplace that is on a mission to transform the lifestyle and fashion retail shopping industry, announced that it has raised a 6 digit USD Seed funding led by Egypt Ventures.
Founded in 2018 by Mohamed Abdel Dayem and Ali Zakaria, Dresscode sells women’s wear, beauty and home products, with an aim to connect Egyptian manufactures to the consumers directly. Dresscode are working to fulfil a gap in the market for affordable high fashion, aspirational and the reach to multi-brand product variety.
Dresscode provides a platform for local fashion brands and designers to market and sell their products, adding to their income streams and helping them grow their business. The company’s business model also depends on third party manufacturers which contributes to job creation across the entire fashion supply chain in the Egyptian market
“Egypt is a huge market and the textile industry is one of the highest contributors to Egypt’s GDP. We are trying the solve a problem that many manufactures, brands, and suppliers face, which is how is to reach the consumer. Many factories produce great material and products that are exported everywhere in the world, but these factories lack the marketing and branding aspects, hence they go to merchants to sell the products, which take a big portion of their margins.” stated Mohamed Abdel Dayem.
Mohamed Abdel Dayem, the co-founder and CEO of Dresscode, comes from a family rooted in the textile industry since the 1920’s. His family have been an essential part of textile & garment manufacturing, where he experienced some of the pains that face garment manufacturers and owners, including lack of data, distribution, and sales which inspired him to this platform.
“Dresscode as a brand and as a platform has a strong team behind it, they have successfully tapped into the rapidly changing consumer buying behavior.” added Ali Zakaria. “We are confident that our products are well-positioned to cater to our customer needs.”
Ali Zakaria, Managing Partner & Co-Founder continued, “We have managed to reach 9000 active users without any funding. Consumers are always seeking a better offering and we worked hard to offer them what they are looking for. For many years consumers lacked affordable, durable products to depend on rather than imported products, that are usually expensive and not the best quality.”
The startup stated that in the last 4 months, they have witnessed a huge growth due to COVID-19, hence they accelerated the process with Egypt Ventures to raise the funds in order to maintain the growth and make the best of the opportunity ahead.
Egypt Ventures Managing Director, Ahmed Gomaa stated, “We are excited to be part of Dresscode, as part of our mission to support talented Egyptian entrepreneurs contributing to the growth of local tailor workshops.”
The proceeds will be used to maintain the growth, by expanding our team, the product offerings, and infrastructure to start offering next & same day deliveries to our customer,
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