Egyptian-based beauty platform Source Beauty acquired by the Egyptian Company For Cosmetics (ECC), a beauty and personal care manufacturer.
Source Beauty is a one-stop shop run by women. This marketplace offers customers an affordable and readily available alternative to beauty products in the country, as well as exposure to products sourced from raw materials by female start-ups. It also provides an interactive shop window for both established and emerging brands. The acquisition of a majority stake presents a significant opportunity to provide Source Beauty's clients with enhanced services such as new product innovation and manufacturing know-how, among other things.