The Fashion Kingdom (TFK), the leading curated fashion marketplace in Egypt, has acquired direct-to-consumer (D2C) fashion brand Opio to create a powerhouse fashion group.
A marketplace offering access to fashion, beauty and home accessories, with 360 value proposition for brands, TFK was launched in July 2020 by co-founders Fadi Antaki, Marianne Simaika and Karim Abd El Kader. In August of last year it raised a US$2.6 million seed round to accelerate its growth.
Launched in 2017 by Shady Mokhtar and Reem Abdellaftif, Opio started life as a digital native vertical, capitalising on the long-abandoned Egyptian apparel industry and the surge in online shopping demand. The platform commissions white label and toll manufacturing women’s wear apparel to different manufacturers, and offers it to its customer base through its digital platform.
Antaki said the acquisition of Opio was a strategic move that complements and completes TFK’s ecosystem.
“We are creating an all-in-one ecosystem that combines OPIO’s D2C expertise with TFK’s marketplace infrastructure,” he said.
“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.”
Mokhtar, Opio’s CEO, said he was excited about the acquisition.
“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, and extending our presence throughout the MENA region. Collaboratively, we will push boundaries, elevate our brand influence, and reshape the fashion industry.”