Cairo-based E-commerce Marketplace Dresscode Raises Six-Figure Investment
The Egyptian fashion and lifestyle online marketplace has thrived throughout the e-commerce boom of the pandemic.
Exploiting the extraordinary pandemic-fueled spike in e-commerce volume in Egypt - an estimated 50% according to a report published in June - Dresscode, the Cairo-based e-commerce marketplace for fashion and lifestyle, has just closed a six-figure (USD) investment in a round led by Egypt Ventures.
Founded in 2018 by Mohamed Abdel Dayem and Ali Zakaria, www.dresscodeme.com features a diverse array of fashion (for women), beauty and homeware with a dynamic supply chain enabling local designers and manufacturers to rely on an already established e-commerce marketplace where users are known to roam.
“Egypt is a huge market and the textile industry is one of the highest contributors to its GDP. We’re trying to solve a problem that many manufactures, brands and suppliers face, which is how to reach the consumer,” says co-founder and CEO Mohamed Abdel Dayem. He’s speaking from experience. Abdel Dayem’s family has been rooted in the local textiles industry since the 1920s and they’ve long suffered from the opacity of the process, especially the lack of data on distribution and sales. Dresscode is designed to ‘clear the air’ so to speak, exceptionally empowering the manufacturer. “Many local 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, and offer them the worst payment terms.”
Meanwhile the Dresscode customer is offered affordability, diversity and accessibility in a contact-weary world. The offerings range from some of Egypt’s hottest and most highly sought after young independent brands to mass-market favourites such as Carina and Izzy Apparelall prettily packaged up with original editorials and served up in an easy-to use high-tech website and app.
“We’ve managed to reach 9000 active users without any funding” says co-founder and Managing Partner Ali Zakaria. “Consumers are always seeking a better offering and we’ve worked hard to give them what they are looking for.”
