Overview: Daraz is a company providing an online store of branded products. It offers an integrated e-commerce system and a mobile application that enables users to purchase products such as clothing, footwear, apparel, jewelry, accessories, electronics, beauty products, and merchandise.
Trade Zone: Bangladesh , Pakistan , Nepal , Myanmar , Sri Lanka
Products: Marketplace, Retailer
Main person: Bujarki Mikkelsen (CEO), Sheikh Ahmed
Founding period: 2012 ; 10 years ago
- www.daraz.com (Corporate)
www.daraz.lk (Sri Lanka)
Munib Mayur (Founder) and Faris Shah (Co-Founder) founded Daraj as a fashion retail company in 2012 while Munib was working at Rocket Internet. Daraj's initial funding and work was doing Rocket Internet. But it later evolved into a common market strategy and business model when it launched in Bangladesh and Myanmar in 2015.
In September 2015, the company received a €50 million investment from UK state-owned Development Finance Institute.
Daraz acquired Qaymu in July 2016.
Alibaba Group acquired Daraz in May 2018.
In 2015, Daraz started operating in Bangladesh under the name of 'Daraj Bangladesh'. Mushfiqur Rahim, the then captain of the Bangladesh national cricket team, became its goodwill ambassador after the start of the program. In 2015, they launched mobile applications for customers on Android and iPhone usersIn early 2017, Keimu, an e-commerce company operating in Bangladesh, merged with Daraj. Daraj is often accused of providing wrong and substandard products.