Dubizzle invests $1m into fashion marketplace app Shedd
UAE-based classifieds site pours $1m into new concept developed by its co-founders
UAE-based Dubizzle, a popular classifieds website, has invested $1m in a new fashion marketplace app dubbed Shedd, the company announced today.
Created by two former employees of Dubizle, Shedd is a mobile-only shopping app for "good-quality", second-hand items, designed to allow UAE fashion lovers to buy and sell. Items from small businesses and independent designers will also feature on the app.
According to Dubizzle, Shedd allows users to post items for sale quickly and for free. Potential buyers are able to filter items by social media friends or users near them, as well as chat with other users via the app and like and comment on items.
Users are encouraged to use hashtags when posting their goods, to categorise and sort all items posted; with page rankings determined by the quality and rarity of the item, as well as the quality of the photo, description and hashtags used.
Dubizzle's investment in Shedd is its first in 10 years of trading. Shedd was incubated within Dubizzle by a team led by co-founders Tariq Zabian and Alex Hutley, who previously held the positions of general manager of Emerging Markets and marketing director, respectively.
"The fashion industry is growing massively in the region, especially in the UAE - the UAE is one of the world's top three developing countries for retail development - and although this growth has seen many new local and international brands revelling in success, the second-hand entrepreneur and hobbyist sector has been massively under-serviced," the pair said in a statement.
"The growth of the fashion industry, when combined with the rise of online shopping in the UAE and the increasing use of social media channels as a first port of call for those searching for fashion goods to purchase, highlighted a need to create a one-stop online marketplace providing a similar user experience to Instagram, through which aspiring designers, entrepreneurs and hobbyists can showcase their talents. However, unlike Instagram, users of Shedd can complete the transaction -whether buying or selling - via the same app."
Commenting on Dubizzle's investment into the new app, Barry Judge, general manager of the company, said: "Shedd is set to completely transform the way in which consumers in the UAE buy and sell fashion goods, much like Dubizzle entirely transformed the way in which people bought and sold their second-hand goods - from their cars to their homes - when it launched ten years ago.
"Alex and Tariq identified a huge gap in the UAE's fashion e-commerce market and responded by creating an engaging, social media-inspired fashion platform which we anticipate will be excitedly adopted by all UAE fashion consumers, hence why we have invested a substantial amount of money in the app."
Shedd is currently available on the Apple App Store, with an Android version of the app coming soon.