My Startup World speaks to Fouad Hussaini, the Co-Founder of Itsere.com, about his company, the services and products it offers, and his entrepreneurial journey thus far.
Tell us about Itsere. What’s it all about?
Itsere.com is an online shop retailing modern and contemporary design pieces to consumers in the GCC markets. We are about making contemporary design accessible.
The emphasis is on contemporary and modern small pieces of furniture, leather goods, gadgets and personal accessories produced by emerging designers in Europe, N. America and the Middle East. Usually brands and products not available locally.
We are always on the lookout for Middle East design talents as Itsere provides a platform for them to compete for business along with their peers from other parts of the world.
When was the company founded?
We’ve spent just under a year in researching and then building the website until it was launched on August 15th 2014.
What is the company’s business model?
Itsere is an online B2C business providing its signed-up members with access to new designs at keen prices. Products are sourced directly from designers at wholesale prices and are showcased on Itsere in a curated manner.
Who are the founding partners of the company?
The company was co-founded by the duo of Fouad Hussaini and Alia Hindi. Alia acts as company’s GM.
What makes you different from existing options?
We are different because our offering is aimed at style centric consumers that appreciate unique one-of-kind products. Itsere appeals to consumers that appreciate individuality and high quality.
The business uniquely places itself as a supporter of local design talents and emerging international designers at large therefore placing the business firmly as a design oriented concern.
A small percentage of our products will be made to order with extended delivery times reinforcing the idea of one-of-kind goods and uniqueness.
What is your growth like? And what milestones has your startup achieved so far?
The business was launched only recently therefore the launch is a milestone by itself to us. We will update this information as we achieve more progress.
Who are your competitors?
The GCC market has not witnessed a proliferation of competitors in the field of marketing the products of emerging designers but notable examples of successful shopping sites include the likes of MarkaVip, Wysada, Namshi and Sukar.
Itsere will not compete with the businesses mentioned above because of the nature of the goods and type of designers involved. Itsere is about the goods and the designers and not simply about the discounted price.
What obstacles did you face when setting up the company?
Our biggest obstacle has been to apply new marketing initiatives whilst being restrained by financial resources. Prioritizing the different tasks and initiatives has made a big difference. Ingenuity is the name of the game and resourcefulness will help us keep our heads above water.
Modern and contemporary design has gained respectable footing over the past few years fueled by the recovery in the economies of the GCC countries and changing consumer tastes.
The lack of venues available for the sale of such goods provides Itsere with an opportunity to provide such a platform.
We are a small team of professionals from varying backgrounds; engineering, finance, entertainment and IT with successful track records each in his own field. This collective experience is a valuable advantage.
Itsere is unique in the local market place in being design driven and is interested in nurturing individuality and creative thinking through industrial design. Various initiatives to be unveiled in the future.
If your startup succeeds, what additional areas might you be able to expand into?
Once we have firmly established the company, there are plans to introduce products under the Itsere label through collaboration with top designers.
We would also like to expand the product range and services to include for example white glove delivery service for big furniture items.
Why did you choose this idea and concept to build your startup?
Online commerce is an efficient system of trading and has seen exponential growth in the Middle East over the last 5 years.
Online retailing despite being a new concept in the region has gained ground especially through flash sale sites.
What have you learned so far from launching your idea?
We realize that there’s no limit to perfection. Attention to detail is crucial in order to make the products look awesome.
There is definitely a need to stress social advantage/s for the business in order for it to get more traction be it ecological awareness, green practices, recycling of wastes etc. Itsere puts alot of emphasis on such issues, you will notice that the shop includes various products made using recycled materials.
Six months from now, what’s going to be your biggest problem?
The biggest challenge will continue to be finding ways to market the company with a limited marketing budget.
Online commerce is a fierce competitive environment and a lot of money is being poured by market leaders into online advertising through all available media channels.
What are the benefits for the customer?
Bringing design lovers in the Middle East closer to contemporary and modern products that otherwise would be inaccessible.
We hand-pick products that meet certain aesthetic, functional and environmental criterions.
There will be regular savings and offers for returning customers/members. We consider the designers as customers as well and we provide them with the means to gain a following and sell their products at the same time.
How did customers find out about you?
Mostly through posting regular feeds to our social channels via Twitter, Instagram, Facebook, Pinterest and Linkedin. The website has been search engine optimized as well resulting in organic growth of followers.
Who are your current customers?
Our customers come from a variety of backgrounds and nationalities but mostly 25 to 45 year old Arabs and westerners living and working in the GCC. We will update this section as we gain further insight.
Where do new customers come from and what makes new customers try you?
New customers find Itsere through mentions and feeds in social media, magazine articles, word of mouth and Google search.
Customers are enticed by the eclectic selection of goods that may be hard to find locally.
And some customers are tempted by the price offers found on the website.
What do your customers say about your product?
We have only been operating for few weeks therefore we have limited feedback but most comments were complimentary regarding the simple and elegant website and the funky goods on display.
How are you going to scale?
We plan to scale on the basis of key factors such as reputation, quality of service, logistics, social media penetration, merchandising and relevant content creation.
Scaling to us is a welcome challenge that will create opportunities for us.
What’s the biggest missing feature? The one thing customers keep asking for?
The biggest improvement will be in functions relating to free delivery of goods to countries like the UAE and KSA which would greatly impact our sales volumes. This is an aspect of service that we are keen to introduce and are working towards achieving in the near future.
How big do you think you can get?
Itsere has the potential to grow to become a multimillion dollar enterprise within 5 years. We intend on carving a big share in a niche market.
As far as we can see our growth will be organic based on the reinvestment of income back into the business.
Although the question of how fast we can grow will depend on sustaining the momentum already generated and a potential VC investment.
Are you looking to hire new staff?
Hiring is expected to pick up towards the beginning of next year in areas such as product research, IT infrastructure, online content and other areas. We can be contacted at info@itsere.com
Are you looking for partnership opportunities or funding from VCs’ or other funding sources?
Partnership opportunities and funding are two subjects that we would be interested in exploring.
