DressCode raises $250,000 from Egypt Ventures
- Cairo-based fashion e-commerce startup DressCode, has raised $250,000 from its existing investor Egypt Ventures, which led the startup's Seed round back in August 2020.
- Since its launch in 2019, DressCode has fulfilled 30,000 orders and claims that its stock-keeping units (SKUs) increased from 300 to 6000 within a year.
- The startup plans to use the investment to expand into new verticals, namely home décor.
Cairo-based fashion and lifestyle e-commerce startup DressCode has secured a $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.
According to DressCode, since its launch in 2019, the startup has fulfilled 30,000 orders, and amassed a dedicated following of customers, and an increase in its SKU’s with a leap from 300 to 6000 within a year. At the cusp of the pandemic, e-commerce in the MENA region accounted for 22% of total funding in H1 2020. DressCode not only remained afloat, but reported a steady growth and spike in sales during 2020.
On top of being an aggregator of various brands, be it established or emerging, DressCode also have their own product line. The online retailer is building on the unprecedented demand for e-commerce, and to bolster the use of Egyptian cotton in a variety of their products.
A significant 75% of the products offered on DressCode are of its own private label, which utilizes 35 local workshops and the talents of 1,400 employees to maintain a rigorous chain. Said chain involves only two weeks from ideation and design, to products being available to order on its website and to be delivered all across Egypt.
“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.”