The Middle East's Biggest Online Fashion Retailer to Expand into Egypt
Warning: this article is NSFS (not safe for shopaholics).
Launched in 2011, the UAE-based shopping platform, Namshi, is the GCC's most prominent fashion e-retailer. Following its acquisition by Emaar Properties, a major Emirati investor in Egypt, last year, Namshi has just announced its expansion plans into MENA's biggest market, Egypt, Wamda reports.
Namshi offers a wide range of fashion, beauty, and homeware goods from the world's most popular brands and racked up a record $230 million in sales in 2018.
While disposable income in Egypt is far lower than that of the GCC, Namshi plans to target the 10% of Egypt's population which would potentially be attracted to the platform's prices range and brands.
“That 10% is bigger than the population of the UAE.There is a lack of supply and competition and while we will not be significantly cheaper, we won’t be more expensive than the local suppliers,” said Namshi's CEO Hosam Arab to Wamda.
In addition to expanding to Egypt, Namshi is also planning to establish a logistics base in Saudi Arabia, which accounts for 70% of Namshi's sales, a figure which is expected to drop as services expand to new markets.
“Saudi has always been our biggest market, from day one until today, the importance of Saudi hasn’t declined,” explained Arab.