Thursday July 18th, 2024
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Egypt’s TFK Acquires Opio to Form Region’s First Fashion Aggregator

The acquisition has a long term aim of offering culturally relevant and relatable brands that reduce reliance on imports.

Startup Scene

Leading Egyptian fashion marketplace, TFK, has acquired direct-to-consumer (D2C) brand OPIO. This strategic partnership aims to create a powerhouse fashion group with the establishment of ‘THE FASHION KINGDOM’, an all-in-one fashion aggregator and venture builder that aims to revolutionize the fashion industry in the MENA region.

By combining their expertise, resources and brand portfolios, TFK and OPIO will build, acquire and grow diversified vertical fashion brands across the region. Unlike other fashion groups in the area that heavily rely on international franchises, ‘THE FASHION KINGDOM’ is committed to developing and promoting locally grown fashion brands. The aim is to bridge the gap and offer culturally relevant and relatable brands that reduce reliance on imports.

Fadi Antaki, Founder and CEO of TFK, emphasized that the acquisition of OPIO complements their ecosystem, creating an all-in-one platform that combines OPIO's D2C expertise with TFK's marketplace infrastructure. ‘THE FASHION KINGDOM’ will feature a diverse portfolio of brands, including OPIO, FE, Boddiction, Saltwater Circle, and No Apologies, with a focus on delivering authentic fashion brands that resonate with the diverse population of the MENA region.

‘THE FASHION KINGDOM’ offers its brands comprehensive support, including manufacturing, operations, marketing, and content creation capabilities, all powered by a scalable tech stack and backed by a strong group of investors, including A15, The Raba Partnership, Foundation Ventures and regional family offices.

With a primary market focus on Egypt and Saudi Arabia, ‘THE FASHION KINGDOM’ is tapping into the vast potential and market size of these countries. According to ecommercedb.com, Egypt's fashion e-commerce market is projected to reach $3 billion by 2027, while KSA's market value is expected to reach $7 billion in the same year.

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