TFK, a curated fashion marketplace in Egypt, has acquired OPIO, a D2C fashion brand.
This strategic acquisition marks a significant step towards establishing ‘The Fashion Kingdom‘ – an all-in-one fashion aggregator and venture builder aimed at transforming the fashion industry in the region.
The project 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.
Founder and CEO of TFK, Fadi Antaki, said: “The acquisition of OPIO is a strategic move that complements and completes our ecosystem.
“We are creating an all-in-one ecosystem, that combines OPIO’s D2C expertise with TFK’s marketplace infrastructure. The Mena region deserves fashion brands that truly resonate with its diverse population.
“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.”
‘The Fashion Kingdom’ will also seek to create culturally relevant and relatable brands for the region, reducing the reliance on imports. It will include brands such as OPIO, FE, Boddiction, in addition to soon-to-launch brands Saltwater Circle and No Apologies.
Co-founder and CEO of OPIO, Shady Mokhtar, said: “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 project 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.
Egypt and Saudi Arabia are chosen as primary markets due to their vast potential and market size.
According to ecommercedb.com, Egypt has a $1.6 billion fashion e-commerce market, projected to reach $3 billion in 2027 and Saudi’s fashion e-commerce market stands at $4 billion, projected to hit $7 billion in 2027.
