ECC Group acquires a majority stake in leading Egyptian beauty e-commerce platform, Source Beauty

ECC Group acquires a majority stake in leading Egyptian beauty e-commerce platform, Source Beauty

Cairo, Egypt:- Source Beauty, the first and leading Egyptian-based beauty platform, received an investment from ECC in return for a majority stake in the business. ECC is one of the leading beauty and personal care manufacturers in Egypt and provides a substantial opportunity to offer an enhanced service to Source Beauty’s clients, including new product innovation, and manufacturing know-how among others. The group offers 360-degree services in manufacturing and distributing scientifically proven innovative cosmetic products in the country. Lorax Capital Partners recently acquired a significant minority stake in ECC and is supporting the company’s expansion plans.

Launched in 2018, Source Beauty is a women-led one-stop-shop with over 85 local and international beauty brands and 60,000 users. This marketplace provides customers an affordable and available solution to beauty products in the country and exposes them to products sourced from the best raw materials by female start-ups. It also provides established and emerging brands with the most incredible interactive shop window.

Lydia Schoonderbeek, the founder and CEO of Source Beauty, will continue in her role as CEO, in addition to assuming the role of Chief Creative Officer of ECC. "The funds will reinforce an accelerated digital and physical marketing strategy to reach a broader