The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Africa-focused e-commerce giant Jumia, commonly called “Africa’s Amazon”, plans to invest over $590 million in Egypt and other African countries starting this year, CEO Hesham Safwat told Egyptian media platform, Enterprise.
Safwat didn’t elaborate on what portion of the funds would be directed towards Egypt, but said that it is “one of the top countries we’re focusing on,” adding that Jumia Egypt will focus on investing in digital payments and other online services, including Jumia Mall and Jumia Food.
Jumia Egypt will increase its total number of pickup stations to 200 this July and increase its last-mile delivery stations by 40 percent. Other plans include increasing its warehouses and delivery capacity to improve its next-day delivery service.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstance kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.
From Viviano Sue to Soshi Otsuki, a new generation of Tokyo-based designers are preparing to make their international breakthrough.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.