Egyptian beauty startup Mira raised $200K from Wingoo Investment and Technology
“Wingoo Investment and Technology” has provided $200,000 in investments to “Mira” Cosmetics. This action follows Mira’s successful production of its first locally made beauty product, which it plans to launch by the end of 2023. By 2024, it wants to be producing a variety of skincare and makeup items.
The CEO and founder of Mira Cosmetics and Skincare, Amira Dawood, is a young entrepreneur who saw a growing trend in girls’ demand for expensive skincare products and makeup that were imported using foreign exchange. In an effort to support regional goods, she had the concept to create and produce premium Egyptian goods at reasonable costs. Customers would save time and effort, and the severe measures that accompany the current US dollar shortage that put pressure on its exchange on e-commerce platforms would be addressed.
Amira announced that her business had been able to secure a $200,000 investment. By the end of this year, she wants to have established a strong Egyptian brand and a devoted customer base, not draw in investors as her company’s current focus is. She doesn’t intend to think about seeking investments to help her business grow and expand until she has accomplished these objectives. By the end of 2024, Amira hopes to have 100,000 customers because of the strong demand she expects for her products, particularly from girls.
Amira said that since it competes with foreign goods, there is fierce competition. Her products, which are proudly made in Egypt and always available in the local market, are distinguished by their exceptional quality and reasonable prices. Furthermore, providing exceptional customer service is a top priority for her company.
She also emphasized that the company’s current priority is creating new products specifically for the home market. Additionally, the committed staff of the business is committed to understanding the needs of its target market and providing products that satisfy those needs with premium materials and affordable prices. In order to provide customers with the opportunity to buy or try their products before making a final decision, these products will be available via their website and plans are currently underway to open retail locations.
She stressed that there are currently no difficulties concerning the major barriers that the company might encounter in the domestic market. The business is devoted to providing excellent products and building a solid relationship of trust with its clients.
The CEO of “Wingoo” for Investments and Technology, Ahmed Al-Shehabi, expressed his belief that Egyptian products have the quality and potential to rival those made elsewhere in the world. His investment in “Mira” Cosmetics and Skincare is motivated by this conviction. He mentioned that, in keeping with their strategic plans for growth and expansion, “Mira” Cosmetics and Skincare hopes to reach new heights and penetrate markets outside of Egypt, the United Arab Emirates, and Saudi Arabia in the next three years.
