Bidayat, a subsidiary of Alsara Investment Group, the investment vehicle founded by Valentino board chairman, Rachid Mohamed Rachid, has acquired an undisclosed minority stake in Egyptian jewelry brand Azza Fahmy, a statement released Monday said.
Financial details were not disclosed, but Azza Fahmy said the new capital is expected to support the brand’s regional development, retail expansion and international growth.
Through the fund, Azza Fahmy is looking to boost its sales in the Middle East and North Africa as well as New America by launching two flagship stores in the first half of 2023, according to Fashion Network.
Bidayat has also invested in Egyptian accessories network Okhtein and the Italian puffer jacket label, Khrisjoy.
