Sequoia-Backed Jollychic Brings Fashion Show at Dubi, Exploring Next Frontier for the Middle East Retail
The digital economy cooperation between China and the Middle East is getting closer and beneficial for those who dig in the region for a long time, like JollyChic. JollyChic is now one of Middle East's most popular platforms with 35 million registered users.
Jollychic, a Chinese industry-leading company in the Middle East online retail market, is the sole online shopping partner of Dubai Fashion Days. Jollychic created a fascinating show themed as Fusion and Future, commencing with a dramatic display of a UFO traveling to earth.
Jollychic brings their customers in the Middle East convenient shopping experience. Having access to first-hand experience of the fusion of fashion and technology, Jollychic hopes to show the future of fashion as it is clothed in technology in this show, reported by Zawya.
Apart from the fashion show, the company is revving up in exploring possibilities in the Middle East retail market as well. Jollychic has launched a series of solutions for Black Friday Sale this year. A new intelligent warehouse working together other five worldwide is specially built and prepared for Black Friday. Jollychic has cooperated with several airlines and distribution centers and increased manpower in logistic and call centers to guarantee commodity transportation. Jollychic also worked to stock appropriately to ensure that the customers get their parcels as soon as possible, according to PR News Wire. To boost sales volume, the company gave out a USD 100 million cash prize to its users during the Black Friday Sale.
Founded in 2012 and Marching on the Middle East in 2015, Jollychic provides diversified and globalized premium services with one-stop shopping experiences. Incumbents in the Middle East online retail industry include Souq and Namshi at that time, mainly selling digital products and fashion brand products from Europe and America. JollyChic found a different niche of fashion women clothing then and is now one of Middle East's most popular platforms with 35 million registered users.
The region's online sales revenues have been increasing consistently and many Chinese investors see the Middle East as the next region. The digital economy cooperation between China and the Middle East is getting closer and beneficial for those who dig in the region for a long time, like JollyChic. The sales volume of the company has maintained an annual growth rate of over 300% in the past five years, reported by PR News Wire.
A Deloitte report indicates that in 2016, the Middle East online sales revenue was USD 22.4 billion, up 24.4% from USD 18 billion in 2015. The market forecast is to reach USD 48.8 billion in 2021, at a compound aggregate growth rate (CAGR) of 16.9% during 2016-2021. The UAE (United Arab Emirates) is expected to lead the market, followed by Saudi Arabia and Qatar. These countries are expected to jointly account for more than 50% of the forecast revenue in 2021.
——Author: LinYan.Write to LinYan at LinYan@EqualOcean.com