Egypt's TFK acquires Opio to form the first fashion aggregator in the region

By Press Release, 23 June 2023

Cairo, Egypt — TFK, the leading curated fashion marketplace in Egypt, acquires OPIO, a direct-to-consumer (D2C) fashion brand. By joining forces, TFK and OPIO will combine their expertise, resources, and brand portfolios to create a powerhouse fashion group. This strategic acquisition marks a significant milestone in the company's journey to establish “THE FASHION KINGDOM.” an all-in-one fashion aggregator and venture builder aimed at revolutionizing the fashion industry in the region. “THE FASHION KINGDOM.” will focus on building, acquiring, and growing diversified vertical fashion brands across the MENA region through both online and offline platforms, complemented by a regional marketplace.

"The acquisition of OPIO is a strategic move that complements and completes our ecosystem," said Fadi Antaki, Founder and CEO of TFK. "We are creating an all-in-one ecosystem, that combines OPIO’s D2C expertise with TFK’s marketplace infrastructure".

“THE FASHION KINGDOM” is committed to developing and promoting locally grown fashion brands, unlike other fashion groups in the region that primarily rely on international franchises. The Fashion Kingdom aims to bridge the gap by creating culturally relevant and relatable brands for the region, reducing the reliance on imports. The Fashion Kingdom will encompass a diverse portfolio of brands, including OPIO, FE, and Boddiction, in addition to Saltwater Circle and No Apologies, two new brands launching soon.

"The MENA region deserves fashion brands that truly resonate with its diverse population," added Antaki. "By building and acquiring brands from the region, we can provide authentic and relatable fashion brands, that embody the taste, aspirations, and values of our MENA customers."

Shady Mokhtar, Co-founder and CEO of OPIO, also, expressed excitement about the acquisition. "Joining forces with TFK and becoming a part of “THE FASHION KINGDOM.” is a remarkable opportunity for OPIO, paving the way to extraordinary growth potential, extending our presence throughout the MENA region. Collaboratively, we will push boundaries, elevate our brand influence, and reshape the fashion industry."

“THE FASHION KINGDOM.” offers its brands a fully-fledged platform of support, including, and not limited to, manufacturing, operations, marketing, and content creation capabilities, all powered by a scalable tech stack. In doing so, “THE FASHION KINGDOM.” offers the best-in-class infrastructure to fashion direct-to-consumer brands.

“THE FASHION KINGDOM.” is backed by a strong group of investors, including A15, The Raba Partnership, Foundation Ventures, CIB, Acasia Ventures, Sunny Side Venture Partners, Flat6labs, Oqal Angel, Athal Angel, AUC angels, and regional family offices. This support further strengthens The Fashion Kingdom's position and provides opportunities for growth and expansion.

“THE FASHION KINGDOM.” has a primary market focus on Egypt & KSA, due to their vast potential and market size. According to ecommercedb.com, Egypt has a $1.6B fashion ecommerce market, projected to reach $3B in 2027 and KSA’s fashion ecommerce market value is $4B, projected to reach $7B in 2027.

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