Bidayat partners with jewelry house Azza Fahmy

By

Jennifer Braun

Published
Nov 8, 2022

Bidayat, an Alsara Investment Group company founded by Rachid Mohamed Rachid, has taken an undisclosed minority stake in family-owned Middle Eastern jewelry house, Azza Fahmy. Financial terms were not disclosed. 

The new capital is expected to support Azza Fahmy’s regional development, retail expansion and international growth. In particular, it aims to grow sales in the MENA region as well as in North America starting with the opening of two flagships in the first half of 2023. Moreover, the partnership will further allow the house to focus on its product offering and to promote the brand’s luxury positioning. 

Azza Fahmy has built a reputation for its unique design and artisanal expertise, since its founding in 1969. The brand has also attracted celebrity appeal with the likes of Julia Roberts, Rihanna, Amy Adams and Naomi Campbell, sporting the collection. 

Following the investment, the family will remain at the head of the business with founder Azza Fahmy, as company chairwoman, alongside her daughters, Fatma Ghaly and Amina Ghali, as creative director and chief executive, respectively.

Bidayat’s mission to support talented entrepreneurs and high-growth companies with a strong brand DNA is in line with Azza Fahmy jewelry’s innovative, ambitious, and empowering brand history. The shared values between the two companies create a strong foundation for this partnership, considering the investment company’s history of nurturing talent through education and supporting female entrepreneurs. 

Bidayat has also invested in Egyptian accessories brand, Okhtein, and Italian puffer jacket label, Khrisjoy, while Alsara Investment Group’s holdings equally includes luxury eyewear company, Akoni Group.