Reveal announces plan to increase its schoolbag market share to 17%

Mohamed Samir
1 Min Read

Schoolbag factory Reveal announced a five-year plan to possess17% of the schoolbag market in Egypt, by manufacturing 1.18m schoolbags in 2018, according to Diaa Hassan, Reveal’s founder and CEO.

He added that Reveal will depend on the local human capital in order to restrain the annual loss of EGP 2bn that Egyptians spend on buying schoolbags that are imported from China and Southeast Asian countries.

“Egypt can spearhead this intensive industry as it already has the competitive advantages to manufacture and export, especially after the Egyptian pound’s devaluation, which came as part of the economic reform programme. This will make the Egyptian market a fertile laboratory for this industry,” Hassan explained.

Moreover, the factory is expected to deliver the market needs of the promotional bags, in addition to an exporting strategy to the European Union, which will depend on positioning Egyptian cotton to manufacture the everyday bags.

Hassan called upon financial institutions to facilitate the procedures of funding the labour-intensive industrial short and medium enterprises (SMEs) in order to encourage Egyptians to invest in high-quality local product manufacturing and compete globally.

Share This Article
Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/
Leave a comment