Egyptian Jewelry House Azza Fahmy Eyes International Market And Bidayat Partnership

A leading jewelery house in the Middle East has joined forces with investment platform Bidayat, which will see the investment fund owned by Alsara Investment Group take a minority stake in the family-owned property. Azza Fahmy. The capital injection has been marked for the development of the retail business, and in particular, the international expansion outside the Middle East, where it is established in Egypt, Jordan and the UAE; and England, where the brand has a store in London.

Known for the typical use of mixed metals common in the Middle East jewelry, and pairing traditional motifs and calligraphy with more modern settings, the house prides itself on using jewelry as a medium for cultural storytelling. The creative direction is still led by Azza Fahmy himself, who first entered the male-dominated Egyptian jewelry industry in 1969 when he completed an apprenticeship with a master jeweler in Cairo. She went on to set up her own business and through the intervening decades, has carved a niche for her contemporary jewelry showcasing Egyptian culture, made using heritage techniques.

Azza Fahmy’s CEO, Fatma Ghaly, explained why the North American market is a priority for international expansion: “In terms of clients, US customers make up the highest share of us. London boutique as well as in our online store. Over the past few years, we have also provided some very successful activations [in the US market]… testament to the demand in North America for our designs, “said Ghaly, who is Fahmy’s daughter. The team plans independent stores as well as concessions inside famous luxury department stores, and ramping up e-commerce activities.

With Ancient Egypt having a cultural moment, inspired by Tutankhamen and the Rosetta Stone, the team “is very proud to put Egypt on the international map as a jewelry design hub. Every piece of jewelry we create has a deep meaning for the wearer and the owner. . We strongly believe that today’s customers are looking for truly unique pieces. There is a very rich culture and history that we showcase through jewelry, and it’s time for us to share this with the world,” he said.

As an investment fund targeting high-potential creative entrepreneurs in Europe and MENA (Middle East and North Africa), Bidayat – which means ‘beginning’ in Arabic – has a previous form in creating international success stories from local brands including the Egyptian luxury accessories label Okhtein . , through investment, mentorship and incubation. “Azza Fahmy’s approach … is the most extraordinary way to celebrate Egypt’s artistic heritage. It is very much in line with Bidayat’s mission to nurture, develop and unite creative talent. We are excited and proud to join Azza, her daughters Amina and Fatma , as well as the entire team to support one of the most respected jewelry houses in the world,” added Bidayat founder and chairman Rachid Mohamed Rachid.

With 24 points of sale – including boutiques and concessions – already, Azza Fahmy plans to open two more flagships in the first half of 2023. The 300-strong team encourages business in offers ranging from $218 for a pair of sterling silver. hoop earrings, up to $23,000 for more elaborate fine jewelry, including big precious gems. As part of his dual focus on Egypt diligence and culture, and design education, the Azza Fahmy Foundation was created to provide vocational training, job opportunities and start-up support in craft-based industries to marginalized Egyptian youth, ensuring the preservation of traditional crafts.

In 2013, it was followed by The Design Studio by Azza Fahmy, a design school with an internationally recognized educational program rooted in traditional skills, aimed at youth throughout the region, another example of the company’s efforts to protect and showcase the heritage. the founder is very proud. With additional investment from Bidayat, Azza Fahmy aims to take that passion further beyond the Egyptian roots of his business.

Leave a Reply

Your email address will not be published. Required fields are marked *