In a fashion brand or startup in any industry, asides from the initial capital put into it, extra sources of funding have to be sourced to expand and grow the brand. Business owners can apply for funding to purchase machinery, expand their team, include more products in their businesses, and many more.
A fashion e-commerce startup, DressCode which is based in Egypt recently secured 6-figure funding round from Egypt Ventures. How does this affect the brand? And what changes are likely to be implemented as a result of this funding?
DressCode, which was founded in 2018, is a fashion e-commerce startup which connects manufacturers of female clothing directly to their customers. With a well-curated mix of trendy clothes and accessories, such as evening gowns, shoes, boho dresses, denim and many more, they have been able to satisfy the needs of women of all ages.
The start-up was founded by Mohammed Abdel Dayem and Ali Zakaria to be the one-stop-shop for the modern, yet economical woman. They also aim to promptly deliver stylish quality products at appealing prices to every user in Egypt.
“We are trying to solve a problem that many manufacturers, brands, and suppliers face, which is how to reach the consumer. Due to the fact that factories, which produce great material, lack the branding and marketing aspects, they go to merchants to sell the products which offer them the worst payment terms.” – Mohammed Abdel Dayem
About Egypt Ventures
Egypt Ventures is an investment firm focused on empowering the entrepreneurial ecosystem by investing in venture capital firms, accelerators and high growth enterprises. With this vision, it was little wonder that the funding process was accelerated with the e-commerce startup, considering their innovations during the COVID-19 pandemic.
COVID-19 Innovations By Egypt Ventures
During the COVID-19 crisis, the startup saw tremendous growth, judging from their user activity and the number of purchases done on the website daily. Asides this, at the start of the pandemic, the startup created beautiful and inspiring marketing campaigns around face masks, to encourage everyone to wear face masks. They even offered free cotton face masks to continually inspire and motivate the purchasing decisions of customers.
As just like the Managing Director of Egypt Ventures 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.”
With this seed funding from Egypt Ventures, DressCode plans to expand their team and the amount as well as the range of products available for customers. Saddled with issues around delivery to customers also, the fashion e-commerce startup would start offering same-day and next-day deliveries on all purchases made from their website.
This seed funding would have a huge role to play in the overall growth of DressCode, as more users would engage the e-commerce startup when they notice better offerings.