• Switzerland-based Alsara Investment Group's investment vehicle Bidayat has acquired a stake in Egyptian fashion startup Okhtein. The fund is headed by Valentino board chairman and Mayhoola chief executive, Rachid Mohamed Rachid. 
• Okhtein, which translates to sisters in Arabic, was founded by Mounaz and Aya Abdel Raouf in 2014. Since then, the luxury fashion brand, known for its handbags, has managed to develop a robust local client base as well as attract an international celebrity following. 
• Bidayat’s parent company, Alsara Investment Group, has previously invested in luxury eyewear player, Akoni Group, and puffer jacket specialists, Khrisjoy.

Source: WAYA

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

Bidayat focuses on investing in creative talent and young entrepreneurs from the Mediterranean. The company would help Okhtein open more stores, expand its distribution, develop a more diverse range of products and build out the brand’s digital business.

Okhtein, which means “sisters” in Arabic, was founded by real-life sisters, Mounaz and Aya Abdel Raouf, in 2014. Since then, the brand has developed a cult following beyond its homeland and garnered celebrity fans, including Beyoncé, Emma Watson, Cardi B and Gigi Hadid. The family-run luxury bag business is looking to expand its

“Having a hands-on partner like Bidayat will help us unlock our full commercial potential,” said Okhtein CEO, Mohamed Abdel Raouf, who is also Mounaz and Aya’s brother.

Bidayat’s parent company, Alsara Investment Group, has also previously invested in luxury eyewear player, Akoni Group, and puffer jacket specialists, Khrisjoy.