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Africa fashion destination for fashion online

Nigeria
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 16.11.2017
Min investment
$  10.000
1
Total required
$ 20.000
Rating
equalizer 400 из 1000
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Idea

We are online fashion destination for Africa. First of our kind.

Current Status

We have launched the platform to the market and we are trying to scale.

Market

Online populations in Africa. Example Nigeria, Kenya, Morocco, South Africa etc.

Problem or Opportunity

Access to fashion in Nigeria is hard to shop with bad roads , traffic and overpopulatrd markets.

Solution (product or service)

We are a one stop destination for fashion in Africa.

Competitors

Fashpa.com
Shopmaju.com
Konga.com.
Jumia.com.ng
Payporte.com

Advantages or differentiators

We have a forst mover advantage in Africa. Hassle free shopping at their convinience. Doscovery of local brands across Africa. Increased employment of local artisans who manufacture the local brands.

Finance

We require 20,000 usd for following.

Platform upgrade 5%
Inventory 20%
Logistics 5%
Staffing 10%
Operations 10%
Warehousing 10%
Digital marketing 20%
Contingency 20%

Business model

We sell local and international brands on a consignment basis of 10-15% commison per sale.

Then we also have our low priced affordable fashion costing not more than $40 That we manufacture and consists of ocassion wear, trendy casuals and active wear .

Money will be spent on

Platform upgrade 5%
Inventory 20%
Logistics 5%
Staffing 10%
Operations 10%
Warehousing 10%
Digital marketing 20%
Contingency 20%

Offer for investor

5% equity per each 10,000 usd or 10% equity for 20,000 usd.

Risks

Supply to meet demand- we have a strong supply chain of brands, factories and manufacturers.

Online fraud- We use paystack which has high fraud prevention and also accepts multi currencies and shows us how a card is used on our website.

Incubation/Acceleration programs accomplishment

Idea Nigeria
Faster capital Dubai

Won the competition and other awards

Nominated top 5% out of 5300 businesses in Africa likely to succed accross Africa by the African entreprenuership award.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video