Bidayat, a subsidiary of Alsara Investment Group, the investment vehicle founded by Valentino board chairman and Mayhoola chief executive, Rachid Mohamed Rachid, has taken an undisclosed minority stake in Egyptian jewellery brand Azza Fahmy.
The brand, whose designs have found favour with a long list of celebrities including Rihanna and Naomi Campbell, plans to use the investment to grow sales in the MENA region as well as in North America.
Azza Fahmy, who founded her namesake brand in 1969, will continue to work as company chairwoman following the investment, alongside her daughters, Fatma Ghaly and Amina Ghali, who will remain in their respective positions as creative director and chief executive.
Bidayat’s previous investments include Egyptian accessories brand, Okhtein and Italian puffer jacket label, Khrisjoy, while Alsara Investment Group’s holdings also include luxury eyewear company, Akoni Group.
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