Tech transformation and sustainability are key focus areas for Coveti

When Coveti launched in 2017 the goal was to become the go-to online platform for niche and independent fashion brands from across the globe. The “Coco Chanels of the future” as founder Heba Al Fazari likes to call them.

Five years on in 2022 Coveti has launched an artificial intelligence (AI)-powered personalisation feed enabling users to shop personalised items based on style, fit and brand. In addition to technology products aimed at increasing supply of ‘Coveti by You’ enabling customers to customise over 1,800 limited edition products and streamline operations. An embedded 3D viewing technology has also been introduced for the first time on the online marketplace.

What’s more customers can now make payments on Coveti through cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and USD Coin (USDC), among others.

The brand is recording double-digit month-over-month growth and continues to offer an extensive selection of undiscovered luxury fashion.

Our obvious question is what’s next for Coveti?

Investing in tech transformation through AI, automation and bringing more sustainable products to the market will be some key focus areas for Coveti, Al Fazari during an exclusive interview with RetailME.

Coveti has evolved and grown quite a bit. But what kind of challenges have you navigated?

Start-ups by nature face a lot of challenges as they start growing. One of the hardest challenges I’ve faced as a leader is to make sure the team stays focused with growth mindset, inspired and despite limited resources they stay motivated.

What are your future innovation/expansion plans?

To capture strong demand, we are committed to a high level of personalisation and localisation, and we are planning to invest in our AI algorithms and automation. We will continue to expand to different categories to provide a wider collection to our customers. We will continue to introduce sustainable products as they continue to grow three times as fast as regular ones.

Please share three tips to build a resilient and sustainable business.

• The first step to building a resilient and sustainable business is to have a sense of purpose with clear vision. This means you need to know what your business is about and what makes it unique.
• The next step is to have the right team with a clear future plan. You need to have the right skillsets to execute on the plan and provide them with the right tools.
• And finally, it’s important to keep innovating and be agile in today’s ever-changing world to stay relevant.