The homegrown Egyptian jewelry powerhouse Azza Fahmy has risen to become one of the region’s most well-known and desirable jewelry houses with its latest venture receiving a substantial investment from the Bidayat Fund. In the form of shares that make up a large minority stake in the company, the Bidayat Fund, which is part of the Alsara Investment Group, invested a large but undisclosed sum of money in the Egyptian jewelry powerhouse. Reflecting on the new investment and partnership with Bidayat and its founder Rachid Mohamed Rachid, Fatma Ghali, CEO of the jewelry house and daughter of Azza Fahmy, exclusively shared that “Partnering with Bidayat is an important step towards growing the design house and expanding Azza Fahmy internationally. With Bidayat and Rachid, we have found the right partner that shares our values and vision for the brand.”
With branches in London, Washington D.C., Dubai, and elsewhere across the world, the jewelry of Azza Fahmy has also been spotted being worn by celebrities like Rihanna, Julia Roberts, Naomi Campbell, and others. However, this new investment by Badiyat and the expertise brings to the table Azza Fahmy’s plans to further expand in the Arab region and internationally. The news of Badiyat’s purchasing of a substantial amount of Azza Fahmy shares comes after it was announced that the jewelers were planning on opening a further two flagship stores internationally in 2023. In a recent interview, however, Bidayat founder and former Egyptian trade minister, Rachid Mohamed Rachid with WWD, revealed his plans to start opening five or six shops a year, starting in southern Europe and the Middle East before expanding into the USA and China.
Bidayat has history and experience in the fashion world, having invested in the Egyptian luxury handbag brand Okhtein and various international fashion brands. Moreover, Bidayat is also very experienced in international expansions and has the funds and connections to grow Azza Fahmy into a truly international fashion brand. Commenting on the substantial investment by Bidayat, head designer and daughter of Azza Fahmy, Amina Ghali exclusively told us that “I’m looking forward to the next chapter of Azza Fahmy. It feels like we are about to embark on the journey we have been dreaming of for so long. I am excited to take our designs internationally and show people a glimpse of our rich culture and heritage.”
Azza Fahmy herself also commented on the recent investment by Bidayat by stating that “I believe that our rich cultural heritage has huge potential to inspire wonderful and innovative creations to show the world what we can do. I am very happy about this Page 2 partnership with Bidayat and have complete trust that we share the same values and vision to continue our global journey.”