Mayhoola CEO’s investment vehicle takes a stake in Okhtein in Egypt

Sisters Mounaz and Aya Abdel Raouf founded the brand in 2014 and brother Mohamed Abdel Raouf is the CEO of Okhtein. Okhtein

Bidayat, a subsidiary of Alsara Investment Group, the investment vehicle founded by the chairman of the board of directors of Valentino and managing director of Mayhoola, Rachid Mohamed Rachid, has taken an undisclosed stake in the Egyptian accessories brand, Okhtein .

Financial details of the deal have been kept under wraps, but Bidayat, which focuses specifically on investing in creative talent and young entrepreneurs in the Mediterranean basin, said it would help Okhtein open more stores, expand its business. worldwide distribution, to develop a more diverse product line. and develop the brand’s digital activity.

Okhtein, which means “sisters” in Arabic, was founded by real sisters, Mounaz and Aya Abdel Raouf, in 2014. Since then, the brand has developed a cult beyond its homeland and has attracted famous fans, including Beyoncé, Emma Watson. , Cardi B and Gigi Hadid.

“Having a practical partner like Bidayat will help us unleash our full business potential,” said Okhtein CEO Mohamed Abdel Raouf, who is also Mounaz and Aya’s brother.

Bidayat’s parent company, Alsara Investment Group, has also already invested in luxury eyewear player Akoni Group and down jacket specialist Khrisjoy.

Learn more:

Mayhoola: inside the secret Qatari luxury empire

In less than a decade, the investment vehicle backed by the Qatari royal family has built an impressive stable of luxury brands that now includes Valentino and Balmain. Could he become a rival of LVMH and Kering, or will political unrest hold back his rise?

Previous Goodyear Ventures adds AmpUp to its investment portfolio
Next Trinity and Wafra unveil railcar investment vehicle program