Bidayat, a subsidiary of the Alsara Investment Group, has recently acquired a minority stake in the prestigious Middle Eastern jewelry house, Azza Fahmy. While the exact financial details of the deal have not been disclosed, this partnership is expected to provide Azza Fahmy with the necessary capital to support its regional development, expand its retail presence, and facilitate international growth. As part of this expansion, the jewelry house aims to increase sales in the MENA region and North America, with plans to open two new flagship stores in the first half of 2023.
The collaboration between Bidayat and Azza Fahmy will not only provide financial support but also allow the jewelry house to focus on enhancing its product offerings and promoting its luxury brand positioning. Founded in 1969, Azza Fahmy has gained a reputation for its exceptional design and artisanal expertise. The brand has also garnered significant celebrity appeal, with renowned figures like Julia Roberts, Rihanna, Amy Adams, and Naomi Campbell showcasing the collection.
Despite the investment, Azza Fahmy will continue to be led by the family, with founder Azza Fahmy serving as the company chairwoman, and her daughters, Fatma Ghaly and Amina Ghali, taking on the roles of creative director and chief executive, respectively. This alignment is a result of Bidayat’s mission to support talented entrepreneurs and high-growth companies, which perfectly aligns with Azza Fahmy’s innovative, ambitious, and empowering brand history. Moreover, this partnership is strengthened by the shared values between the two companies, particularly Bidayat’s commitment to nurturing talent through education and supporting female entrepreneurs. Bidayat has also made investments in other notable brands, including the Egyptian accessories brand Okhtein and the Italian puffer jacket label Khrisjoy. Additionally, Alsara Investment Group owns the luxury eyewear company Akoni Group.
Links:
– Official Website of Azza Fahmy
– Bidayat Fund Website
