- Egypt’s TFK has acquired D2C fashion brand Opio, which aims to revolutionize regional fashion through aggregators.
- Focusing on the large markets of Egypt and Saudi Arabia, TFK develops brands that are culturally relevant, reducing dependence on imports.
- The portfolio includes Opio, FE, Boddiction and two upcoming brands. A number of investors support TFK’s growth.
Egypt’s premier fashion e-commerce platform TFK has strategically acquired direct-to-consumer (D2C) fashion brand Opio. The move seeks to promote local branding at the forefront of the fashion scene, developing a one-stop shop fashion aggregator, The Fashion Kingdom (TFK).
The move aims to establish TFK as a comprehensive fashion aggregator and venture developer in the region, TFK and Opio announced in a joint press release.
TFK’s primary market focus is on Egypt and Saudi Arabia, selected for their large capacity and large market size. According to current data from eCommerceDB, Egypt boasts a $1.6 billion fashion e-commerce market, with projections showing it will grow to $3 billion by 2027. 7 billion by 2027.
Egypt’s TFK has acquired D2C fashion brand Opio, which aims to revolutionize regional fashion through aggregators. Focusing on the large markets of Egypt and Saudi Arabia, TFK develops brands that are culturally relevant, reducing dependence on imports. The portfolio includes Opio, FE, Boddiction and two upcoming brands. A number of investors support TFK’s growth.
The newly formed TFK is set to close the gap, creating culturally relevant brands for the region, reducing reliance on imports and reducing reliance on international franchises. The mission spans the development, acquisition and expansion of diverse vertical fashion brands, augmented by regional marketplaces, utilizing online and offline platforms.
TFK will be home to Opio, FE and Bodiction, plus newcomers Saltwater Club and No Sorry, a rich product portfolio set to launch soon.
Support for TFK comes from a long list of investors including A15, The Raba Partnership, Foundation Ventures, CIB, Acasia Ventures, Sunny Side Venture Partners, Flat6labs, Oqal Angel, Athal Angel, AUC Angels, and a collection of regional family offices.
Fadi Antaky is the founder and CEO of TFK“The acquisition of Opio is a strategic move that complements and complements 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 offer authentic and relevant fashion brands that embody the tastes, aspirations and values of our MENA customers.
Shadi Mokhtar, Founder and CEO of Opio“Together we will push boundaries, increase brand influence and transform the fashion industry. TFK offers its brands a fully integrated support platform including manufacturing, operations, marketing and content creation capabilities, all powered by an expanding technology stack.
Fibre2Fashion News Desk (NB)