Amr Massry, Co-Founder and CEO at VINCO Interview with Amr Massry, Co-Founder and CEO at VINCO
What is VINCO’s business model?
We came up with the name VINCO from the Latin word which means “the victorious” or “the victory” and in Italian it means “I win”. Our main business model is that with everything you purchase, you get a chance to win. We are selling the dream. We are going to reshape the future of ecommerce and the ecommerce experience and focus on winning prizes. We are going to change the perspective of buying online because there is no unique selling proposition now in any of the ecommerce platforms available here in Kuwait . The client is only price oriented and he is checking here and there in order to make a decision. We created this platform to provide our vendors marketing support. We like to consider the platform as a marketing platform where vendors can create promotions online and the clients can buy the same product that they are checking online for already for the same price and get the chance to win big. We are starting with Rolex watches, Chanel bags, cash prizes, iPhone, Samsung, and a lot of things coming down the line. We are introducing cars and jewelry as well. Our business model is unique, especially in Kuwait and even in the region. In Dubai, there are a lot of direct gambling platforms. From our end, we are Islamic compliant and this is a main point that we focus on in Kuwait. We are licensed by the Ministry of Commerce and all of our draws are conducted by the Ministry of Commerce. The idea of draws in general in the country has been around for a long time and banks and companies all do […]
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