Retail solution that delivers personalized outfits at scale
UAE
Market: Artificial Intelligence
Project stage: Operating business
Also this project:
-
Find investments
- Participate in the Unicorn Battle
- Complete program
Idea or High Level Concept
DRESOS is on a mission to redefine how people do shopping in fashion retail.
Supported by data and AI, DRESOS delivers outfits people love and makes the customer journey frictionless.
Territory of the product or service implementation
UAE
Traction and Current Status
We have over 3,000 registered users, 310 active customers, AOV of $380 and Sales of $250,000 so far. We also have consignment agreements with over 50 brands in the UAE and we hold no stock.
Problem or Opportunity
Fashion retail, both physical and online has hardly any personalization, poor customer service and uses very little data and technology when offering products. We are solving 4 main problems: standardized offering, shopping hustle, styling issue and poor customer service in fashion retail.
Solution
Dresos is an AI powered retail solution that delivers personalized outfits for any occasion without charging styling or delivery fee. We use product and customer data to deliver the perfect outfit for men and women. We are currently working with B2C business model and by 2023, we will be offering SaaS for B2B.
Customer Segments and Market
We are focused on the UAE at the moment but the plan is GCC in the next few years and globally with our B2B (SaaS) business model.
Revenue Streams and Cost Structure
Dresos makes money on margins from retailers (40% on average).
Business Model, Chanells, Metrics
Currently B2C but expanding to B2B (SaaS) and enterprise in 2023.
We get product from retailers on consignment and charge on average 40% margin from retailers/brands and we hold no stock. We pay only for the product we sell to end consumers.
Competitors and Existing Alternatives
Stitch Fix is a global competitor and Traditional e-commerce is current solution.
Advantages or differentiators
We have consignment business model and hold no stock. Also, we have a team experienced in building AI product and in Fashion Retail. B2B (SaaS) personalization at scale where we offer our technology to retailers/brands is something that currently doesn't exist.
Incubation/Acceleration programs accomplishment
We are part of the in5 Tech in Dubai from September 2020.