Egypt Ventures has invested $250,000 in DressCode, a Cairo-based fashion and leisure e-commerce firm. The online shop intends to use the funds to grow beyond fashion and cosmetics, with a focus on revitalizing its home décor items.
“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.
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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.
Dresscode Egypt Ventures Dresscode Egypt Ventures Dresscode fashion Dresscode fashion
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning write