Homzmart launches Egypt-Saudi cross-border operations

●    The move is a bid by the Middle East’s leading furniture & home goods marketplace to boost regional trade and economic growth

Homzmart, the Middle East’s leading furniture & home goods marketplace platform, has launched cross-border operations between Saudi Arabia and Egypt, a solid move for bilateral shipments in the furniture industry.

Homzmart is spearheading this move in aims to boost regional trade and economic growth. The company’s geographic location and access to the Middle East’s fast-growing consumer middle class, comes with a responsibility to develop the region’s trade.

Homzmart initiating cross-border trade from Egypt to Saudi Arabia allows Egyptian manufacturers and brands visibility in the Saudi market. Homzmart is uniquely positioned to boost ties with neighbouring markets. With the region’s growing middle class, Egyptian manufacturers and brands hold much promise in terms of accessibility.

Macro-economic forces also make Homzmart’s cross-border operations attractive to merchants and buyers in Saudi Arabia. With oil price surges raising import costs from China and Southeast Asia, as well as supply chain challenges on the back of the coronavirus pandemic, Homzmart offers accessible and affordable alternatives in the furniture industry.

Efficiency is at Homzmart’s core; it has long been digitizing to optimise and scale operations. Its progress to date has made logistics 80% faster and 30% more cost effective. In Egypt, the company’s operations are strategically located close to Damietta City, one of the region’s largest furniture manufacturing hubs.

“We are excited to launch cross-border operations between Saudi Arabia and Egypt – a milestone for Homzmart and for regional trade,” said Ibrahim Mohamed, co-founder and COO of Homzmart. “Our strategy has deliberately focused on going beyond operating in both markets, to bring them closer together. Our strategic location close to Damietta, as well as our cost-effective and rapid logistics uniquely enable us to deepen Saudi Arabian-Egyptian trade in furniture and home goods, a win-win for everyone.”

This announcement aligns with Homzmart’s rapid progress operationally and geographically. Homzmart launched its own logistics division in October 2021, in aims to digitize the industry. In November 2021, the company expanded into Saudi Arabia–a $15 billion market, growing at a 10% CAGR per annum.

Massive consumer demand tripled Homzmart’s overall operations in 2021. Earlier this month, Homzmart announced the acquisition of Berlin-based technology company MockUp Studio.