Egypt: PE firm Ezdehar backs apparel retailer
Egypt: PE firm Ezdehar backs apparel retailer
Ezdehar has announced the purchase of a majority stake in SETA Textiles through its Ezdehar Mid-Cap Fund II.
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Ezdehar Management, an Egypt-based private equity firm, has purchased a majority stake in SETA Textiles through its Ezdehar Mid-Cap Fund II.
The investment falls within Ezdehar’s strategy of investing in and supporting mid-cap companies undergoing transformative growth and marks Ezdehar’s entry into the apparel retail sector.
SETA was established in 1958 by the Al Shamsi family. It was initially focused on textile manufacturing, and then gradually evolved into an apparel retailer operating a network of 60 stores across Egypt. The company operates under two main brands: Dalydress, a legacy brand name in the sector with a unique offering providing high quality products with differentiated localised designs, and Premoda, an affordable fashion brand targeting a younger customer segment. Beyond its physical retail presence, SETA serves the market via diverse channels including its own online platforms, third-party online marketplaces, as well as a corporate business unit (B2B).
Ezdehar’s acquisition includes a primary capital investment in SETA to support the company’s ambitious expansion plans – online and offline, in Egypt and overseas. Through the partnership with Ezdehar – and alongside the company’s continuing investor, Gemini Holding – SETA aims to strengthen its position as a leading retailer in Egypt and expand overseas, all while further institutionalising its organisation as well as building and retaining a strong team and unique culture.
Amir Mishriky, managing director at Ezdehar said, “The company has evolved into a leading apparel retailer and has managed to build a strong base of loyal customers over the year as a proud Egyptian brand.”
He added, “We are excited about the prospect of contributing to the company’s continuous improvement and providing the essential support to its growth story, aspiring to emerge as a regional leader in the sector.”
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