Cairo Fashion Startup DressCode Looks to Home Décor After Latest Fund
The startup wants to scale its operations and utilise its 35 local workshops to step into home décor offerings.
Cairo lifestyle and fashion e-commerce startup, DressCode, has announced that it will look to establish a new home decor vertical following its recent $250,000 raise from Egyptian investment firm, Egypt Ventures.
Since its 2019 launch, the fashion company has fulfilled 30,000 orders and garnered a loyal customer base as it increased its stock-keeping units (SKUs) from 300 to 6,000 within a year.
The Egyptian brand is an aggregator marketplace for various emerging and established brands, but also has its own private label which accounts for 75% of all products on DressCode. With 35 local workshops and a workforce of 1,400 employees, it takes only two weeks for the process of realising products, from designing an item to listing it on DressCode’s website for delivery across the country.
Building on the existing networks that sustain the chain, the new funds will be used for expanding beyond its fashion and cosmetics products, and towards home décor offerings.
DressCode has reported steady growth and a spike in sales during 2020, as a result of the e-commerce boom caused by the COVID-19 disruptions, though Chairman and CEO of Egypt Ventures, Ahmed Gomaa, sees yet further promise for the startup: “Through combining a scalable, agile business model and partnering with local workshop all over Egypt, DressCode has the potential to make an impact on the Egyptian market,” he said.
