{"id":17213,"date":"2022-05-19T11:19:18","date_gmt":"2022-05-19T11:19:18","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=17213"},"modified":"2022-07-23T09:23:10","modified_gmt":"2022-07-23T09:23:10","slug":"egypts-homzmart-brings-commercial-arm-to-saudi-arabia","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/05\/19\/egypts-homzmart-brings-commercial-arm-to-saudi-arabia\/","title":{"rendered":"Egypt\u2019s Homzmart expands to Saudi Arabia"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-contrast=\"auto\">Homzmart, the Egyptian-based e-commerce platform for home furniture, home d\u00e9cor, lighting and home supplies, has begun commercial operations in Saudi Arabia. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The platform offers 55,000-plus homeware products from numerous retailers, including IKEA and Home Centre. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cThe disruption of global supply chains, high oil prices, in addition to their strategic location in Damietta and the fast and cost-effective logistics they provide, make deepening the Saudi-Egyptian trade in furniture and household goods in a win-win,\u201d said Ibrahim Mohamed, Homzmart&#8217;s co-founder and operations manager. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Last May, the e-commerce platform received $15 million in a Series A financing round from Omani-based investment firm MSA Global, marking the largest round in the Middle East\u2019s furniture industry to date.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The expansion of commercial operations aims to expose Egyptian furniture manufacturers and brands to the regional market and develop the platform\u2019s volume of regional trade.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Homzmart aims to capitalise on the kingdom\u2019s furniture industry, which is estimated to top $334.7 million by the end of the year and $585.4 million by 2025, expanding at a compound annual growth rate of 20.48 per cent, according to market intelligence firm Statista. <\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Amid the expected growth, the platform intends to support regional trade and further economic growth.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Mahmoud Ibrahim, CEO and co-founder, said: \u201cHomzmart provides an easy one-stop-shop platform to transform the experience for furniture sellers and consumers.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Founded in 2020, Homzmart has since tripled its operations, keeping pace with their consumers\u2019 demands.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Digitisations of their operations has accelerated and improved logistics services by 80 per cent, and reduced costs by 30 per cent.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Homzmart\u2019s commercial headquarters are stationed near Damietta, the Middle East\u2019s hub for furniture manufacturing.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>E-commerce furniture platform expands commercial division to Saudi Arabia. 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