Okhtein, an Egyptian accessories brand, has received an investment from Bidayat, a subsidiary of Alsara Investment Group, a company founded by Valentino board chairman and Mayhoola CEO, Rachid Mohamed Rachid. The news was reported by Business of Fashion.
The financial terms of the deal were not disclosed. Bidayat is focused on helping Okhtein open more stores, expand its distribution network globally, and expand their digital business.
Okhtein was founded in 2014 by sisters Mounaz and Aya Abdel Raouf. The brand has grown internationally far beyond Egypt and has developed a celebrity following ranging from stars like Beyoncé to Gigi Hadid.
Bidayat is known for enabling European and MENA region companies expand, and e-commerce is their major focus after the explosion in the category since COVID-19. They are also known for helping brands increase product development.