There can’t have been many worse times to start a new business in Iran. Even before officials in the Islamic Republic alerted the public to a major outbreak of the coronavirus, the country started the year in a tense standoff with the U.S. while its economy was being crippled by sanctions.
For a trio of design graduates, a captive market of tens of millions of consumers starved of imports made it worth the risk. Their fashion brand, Koi, has sold thousands of crop tops and striped jeans since July.
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The Koi design team at their studio on the outskirts of Tehran, including co-founders Armita Ghasabi, Fojan Fard and Yasaman Ghanbari and data analyst Soheil Zhalepour. Photographer: Ali Mohammadi/Bloomberg |
“Made in Iran” has emerged as a rare glimmer of hope in the financial destruction from being ostracized from the oil market and global trade while Covid-19 rages. In a country where so many people’s lives have been defined by cycles of Western restrictions, brands like Koi, Zi Shampoo and Bonmano Coffee are among the homespun names that are filling the vacuum for consumer goods.
“We just knew it would work because we ourselves and so many people around us were so desperate for basic, simple things,” said Armita Ghasabi, 30, one of Koi’s founders.
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