Direct-to-consumer (D2C) fashion brand Opio has been acquired by The Fashion Kingdom (TFK), the top curated fashion marketplace in Egypt, to form a formidable fashion group.
With a 360-degree value proposition for brands, co-founders Fadi Antaki, Marianne Simaika, and Karim Abd El Kader launched TFK in July 2020, a marketplace that provides access to clothing, cosmetics, and home décor accessories. It obtained a US$2.6 million seed round in August of last year to quicken its growth.
Shady Mokhtar and Reem Abdellaftif founded Opio in 2017 as a digitally native vertical, leveraging the long-dormant Egyptian apparel market and the explosive growth of online shopping.
The platform contracts with various manufacturers to produce white-label and toll-made women’s clothing, and it then makes these products available to its customer base online.
According to Antaki, the acquisition of Opio was a tactical choice that completes and complements the ecosystem of TFK.
“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.”
The CEO of Opio, Mokhtar, expressed excitement 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.”