Brimore, Egypt’s Social-Commerce Platform is Restructuring to Reduce Costs, Increase Profitability

Brimore, Egypt’s Social-Commerce Platform is Restructuring to Reduce Costs, Increase Profitability

Brimore, an Egyptian social-commerce platform, has announced a company-wide restructuring to cut expenses and maintain healthy financial records in response to the current economic downturn.

The startup explained in a press release that the restructuring will take into account its strategic plan in the local market to provide thousands of new job opportunities for Egyptian youth while also making local products available at affordable prices.

Many companies in various sectors and markets have faced significant challenges as a result of the ongoing Russian-Ukrainian conflict, which cast a shadow over the Middle East, which is why Brimore decided to embark on a decisive path of operational reconstruction to achieve its goals, the most important of which is profitability.

However, the startup is working to develop local products at very competitive prices that meet the needs of Egyptian consumers.

The social commerce platform which secured $25 million in a World Bank’s International Finance Corporation (IFC) and Endure Capital-led series A round in January 2022 devised a business model that uses technology to market local products at low prices. The process of rebuilding efficiently and effectively in ways that suit the size of the company’s operations in the Egyptian market began thanks to the tireless efforts of all active and supportive parties to Brimore.

According to Brimore, all of its success partners, including investors, suppliers, customers, workers, and founders, are working tirelessly to complete the company’s success story as an integral part of the modern fabric of the Egyptian economy.

With its distinct infrastructure and technology, the company has successfully capitalized on market penetration opportunities for emerging brand owners.

Brimore empowers its sellers, the majority of whom are women, by offering alternative and more flexible ways to generate income, allowing them to become local leaders through customized online and offline selling solutions.