Arab streetwear pop culture brand Jobedu sets sights on a $250,000 target raise on Eureeca equity crowdfunding platform
Jobedu, Amman-based Arab streetwear pop culture apparel and lifestyle brand with a regional and global reach, has launched an equity crowdfunding campaign on Eureeca to raise $250,000.
Founded by Tamer AlMasri and Michael Makdah in 2007, Jobedu has been carefully crafted to be the go-to brand for creative pop culture apparel and merchandise in the MENA region.
“Our reputation for creative cool and hip merch helped us land licensing and merchandising deals with global entertainment giants such as the Walt Disney Company, Warner Bros and Universal Pictures and other deals underway to create localized collections for their IPs for the MENA region,” says AlMasri. “Today we are franchising Jobedu throughout the region as we head to become the first global Arab apparel and accessories brand.”
While the licensing industry having reached $270 billion globally in 2017, only 3% is generated from the MENA region. Given that there are 424 million Arabs in the region, and that they are among the highest consumers of apparel and culture in the world, there is a very significant gap in the market for licensed consumer goods.
“With our 11 years experience in the region, our manufacturing and production capabilities, and our youth driven brand name, Jobedu is maintaining the lead in the market to capitalise on this gap,” AlMasri adds.
Here are some of the unique ways that Jobedu stands out from the crowd:
- An apparel production facility in Amman, Jordan
- A vibrant and growing 300K+ community
- 800+ designs in their catalogue
- Secured licensing agreements with the biggest IP names in the merchandising industry and in talks with other major IP holders
- 1st franchise open in Ramallah, Palestine
- Signed a franchise partnership in Kuwait, slated to open Q1 2019
- In talks with franchisees for KSA, UAE and Egypt.
Jobedu have shared some great updates in the past month or so including signing a licensing agreement with Universal Studios, represented by their Middle East agent, Shooting Stars, to produce original apparel and accessories lines for their vast IP library including JAWS, Jurassic Park, Minions, Back to the Future, Masters of the Universe and much much more. Meanwhile, Jobedu’s flagship store in Salmiyyah, Kuwait is currently under renovation with opening slated for early Q1 2019. In Saudi Arabia, Jobedu has signed a partnership agreement for Saudi for localized last mile order fulfillment, retail distribution, and franchising which is set to go live in late Q1 2019. Also, in celebration of Mickey’s 90’s anniversary, Jobedu and Disney are collaborating on an exclusive Mickey collection and for the first time ever in Arabic!
The funds raised from Jobedu’s equity crowdfunding campaign will go towards:
- Supporting their franchising efforts in the region
- Provide them with a healthy digital marketing budget to push their online efforts in the region
- Expand their production facility in Amman, Jordan, to meet demand
Commenting on Jobedu’s exit strategy, Makdah says: “As a public brand, our goal is to IPO Jobedu within the next 9 years. Along the way we will be raising the necessary rounds to reach our goals pre-IPO. Investors will get opportunities to exit to other entrants, or buy-back options to the founders.”
Jobedu have raised 38% of their $250,000 target from 38 investors so far.