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Fashion

Kuwait’s Fashion Giant Nalbes nabbed profit of $2 Million from Online Marketplace

Founded in early 2017 by Abdulaziz Alanzi & Bader Alanzi, Nalbes, Kuwait’s number 1 online fashion store in Women, Men and Kids categories. ‘FASHION & LIFESTYLE ON THE GO’, is what Nalbes claim. Established in Kuwait on January 13th, 2017 by a group of Kuwaiti entrepreneurs and selling in across GCC. Nalbes put on the market clothing, bags, shoes, and accessories for men, women, and kids, through its website and mobile apps.

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Kuwait-based online fashion store Nalbes has secured $2 million in its Series B round of funding, led by a group of startup announced today.
Nalbes said that they consist of major family groups from Kuwait and experienced person from the investment and banking industry. After almost 18 months, this round came, when the company raised $1.5 million from secret investors. As said in the statement by Nalbes that some of the existing investors also joined this latest round.

The main focus is on the local fashion industry and the brand wants to take the collections of GCC-based fashion designers and local private labels to a global level by launching worldwide delivery in April this year. The startup at present is shipping across GCC countries only. Currently, the local fashion contributes more to their GMV and revenue said the CEO.

It has over 20,000 styles with a specific focus on the fashion line and categories that create a centre of attention for the local customers such as modest, hijab friendly wear, and planning to localize new fashion trends for women and men section in their 20s & 30s.

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Nalbes is also in encouraging some additional investors who are taking interest to join in by Q4 this year, the startup said in the statement. The investment will be utilized to enlarge the business with a focus on the Gulf countries according to a statement.

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