The Andrew Faris Podcast by Andrew Faris

October 27, 2025 This 8-Figure Brand Has A 10.68 MER And 40% Market Penetration

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Kareem Elgendy is the CEO of Veiled, a multiple 8-figure apparel brand running at 15% EBITDA selling modest clothing primarily for Muslim women. If you're interested in working with Kareem's incubator and/or 3PL, visit https://ynkincubator.com.

Most eCommerce brands plateau at $1-3M because they chase growth without fixing unit economics. Kareem L. Gendi, CEO of Veiled, did the opposite — and now runs an 8-figure brand with a 10.68 MER and 40% penetration of his target market. In this episode, you'll learn how a bootstrapped modest apparel brand cracked profitability at scale through ruthless focus on contribution margin, supply chain innovation (including 90-day payment terms from Chinese manufacturers), and strategic retail expansion.

This isn't theory — it's the playbook from a founder who survived crushing inventory debt and emerged with a business throwing off real profit.

If you're stuck between growth and cash flow, this conversation will rewire how you think about scaling. Kareem breaks down the exact moment they stopped relying on gut and started using data to drive merchandising decisions, how they negotiated payment terms that changed their cash position overnight, and why GEO (Generative Engine Optimization) is the next frontier for DTC brands. You'll also hear about their 3PL and incubator model for operators who want to leverage Veiled's infrastructure. This is essential listening for founders running 7-9 figure brands who are tired of burning cash to hit revenue targets that don't matter.

Key Takeaways:

- Market penetration strategies for niche audiences

- Unit economics that actually drive profitability

- Supply chain negotiation tactics

- How to scale bootstrapped brands without dilution

- Retail expansion done right

- GEO and the future of search optimization

CHAPTER TITLES:

00:01:07 - What Is Veiled?

00:04:11 - Product Variability

00:07:55 - Cultural Values & Marketing Strategy

00:10:34 - Veiled IS A Profit Monster

00:16:45 - Investing In OpEx

00:20:21 - Veiled’s Top Notch Logistics Strategy

00:23:33 - Looking Into The Data

00:31:57 - Outsourcing Marketing Needs

00:36:14 - Lowering Shipping Costs

00:40:13 - Profitability Hacks

00:46:50 - Wins & Losses With Supply Chain

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