Jumia Egypt Celebrates One Year Anniversary In Style
Congratulations to Jumia Egypt for a blockbuster first year! The online retailer, which sells everything from Marc Jacobs handbags to bafra – and about 14,000 other products – celebrated their one-year anniversary with an invite-only fashion show atop the Fairmont Nile City Hotel. The weather was perfect, the bar was flowing and everyone was in high spirits.
Jumia entered the region’s online shopping industry hard and fast with backing from Germany-based online startup incubator Rocket Internet. In Egypt, Jumia receives about 1.5 million monthly visitors, giving competitor Souq.com – the largest online retailer in the Arab world – a run for its money.
Since its launch last spring, Jumia expanded at a remarkable pace to become Africa’s largest e-commerce company with operations in Egypt, Nigeria and Morocco. And with significant investments from international venture capital firm Summit Partners and J.P. Morgan Assets Management, Jumia is expected to continue spreading throughout the continent.
