Homzmart, the platform specialized in the furniture trade, announced the start of implementing its first commercial operations to Saudi Arabia, in preparation for a new phase in the furniture industry. Homzmart is taking this step with the aim of supporting regional trade and economic growth in the Middle East, believing that the company's distinguished geographical location and its ability to reach the rapidly growing middle class holds it responsible for developing and expanding the volume of trade in the region. It is expected – thanks to Homzmart's commercial deals from Egypt to Saudi Arabia – that Homzmart will provide the Egyptian industry with a comprehensive view and reading of the Saudi market and its requirements, in addition to increasing the access of Egyptian manufacturers and Egyptian brands to regional markets. Notably, macroeconomic forces make Homzmart's cross-border operations attractive to traders and buyers in Saudi Arabia. Several factors have contributed – the rise in oil prices to its highest level since 2014, and its impact on rising import costs from China and Southeast Asia as well as the negative impact of the Coronavirus crisis on supply chains. Since its inception, Homzmart has relied on efficiency, as the core of digitization it has taken to improve and expand its business operations, and its efforts in this regard have made logistics services 80% faster and 30% more cost-effective. Homzmart operates its commercial operations in Egypt through a strategic location near the city of Damietta, one of the largest furniture manufacturing centers in the Middle East. Ibrahim Mohamed, Co-founder and Operations Manager of Homzmart, said that they are excited to start launching their commercial operations in Saudi Arabia and Egypt, as it represents a milestone for Homzmart and regional trade, pointing out that their strategy does not depend only on operating in both markets, but bringing them together and creating opportunities for effective business cooperation. "The disruption of global supply chains, high oil prices, in addition to their strategic location in Damietta and the fast and cost-effective logistics they provide, make deepening the Saudi-Egyptian trade in furniture and household goods a win-win," Mohamed added. Today's announcement follows the rapid progress Homzmart has made both operationally and geographically. In October 2021, Homzmart launched its own logistics company with the aim of digitizing the industry, and in November 2021, the company expanded into Saudi Arabia, a huge market of $15bn that is growing at a compound annual rate of 10%. The company was also able to triple its total operations in 2021 from what it was in 2020, thanks to huge consumer demand. Earlier last month, Homzmart announced its acquisition of the Berlin-based technology company MockUp Studio, to become the first Egyptian startup company to expand in Germany and add new activities to it.
