Rush Brush, which specializes in hairdressing products and is a subsidiary of Stylish Eve, plans to manufacture its products in Egypt by 2023, which will mean new investments, according to Ahmed Helmy, chairman of the company.
He said the company is looking to diversify its products in the Egyptian market to meet user demand. He pointed out that the great development in the field of e-commerce in Egypt has encouraged his company to expand further in online sales, which has resulted in significant sales growth of up to 300%.
Stylish Eve runs a self-titled magazine that targets women around the world and provides them with ideas and advice on the latest trends in fashion and home decor.
Helmy added that the company started its work in Egypt in 2017 and sold its products online only, then turned to the direct-to-consumer (D2C) model through distributors to enable sales in the Delta and Upper Egypt regions, and areas where e-commerce is still weak to reach new categories of users.
He pointed out that the company then shifted to selling through large chain stores, where offline sales currently account for around 40% of the company’s sales, noting that selling through stores has created great challenges for the company which made him think about diversifying his basket of products. in order to meet the needs of customers in all price categories, and to offer various offers in partnership with the major commercial chains in the Egyptian market.
Helmy pointed out that the company in its early days had one product of each type, but today “we have 25 new products, as we are directing a large part of the budget to the research and development department which is working to increase the Rush products Brush”, emphasizing that the department is always committed to offering products that revolutionize and make a difference in the lives of its users, we have obtained two patents, one for the S3 product and the second for a product that will be unveiled in early 2023. .
Regarding the import issues, Helmy pointed out that the company does not encounter any problems in the import process, as it is one of the first companies to adhere to the decisions of the Ministry of Industry and Commerce. concerning the registration of factories in 2020 and 2022.
Helmy noted that the company has been working from the beginning with the banks on the documentary credit system, and therefore is fully compliant with the decisions of the Central Bank of Egypt in this regard, so we have not encountered any problems, whether to supply the dollar or impediments in importing from abroad.
He pointed out that the state has not stopped importing, but rather has organized the random import conveniently with the aim of obtaining the best quality of the product for the benefit of the citizen, pointing out that many companies do not had encountered no problems importing their products as they were compatible with the new import procedures.
Helmy pointed out that Egyptian customers are understanding and aware, but they lack companies that respect them and provide them with the quality they deserve, explaining that his company constantly responds to user complaints and constantly cooperates with customers. ‘Consumer Protection Agency to immediately resolve all customer issues.
Helmy pointed out that the company is constantly expanding its products in the Egyptian market, pointing out that his company has good financial solvency which has earned it the trust of banks, as it has obtained credit facilities worth 80 million. EGP with banks over the past five years. .
Helmy added, “Our sales last year were around EGP 100 million, and we are looking to double that this year.”
Helmy explained that the company’s market share in the retail market in Egypt exceeded 45%, noting that the company’s growth rate reached 100% per year and the number of employees reached 220 employees until at the end of the first half of this year.
He pointed out that the coronavirus crisis had greatly contributed to doubling the company’s growth rates until it became one of the biggest companies in the market.
Helmy said Rush Brush has not raised prices for its products since the start of this year to preserve customers and has tried to absorb increased production costs into its profits.