Egypt’s ariika eyes expansion in Gulf markets

Updated 9/27/2023 1:05:00 AM
Egypt’s ariika eyes expansion in Gulf markets

Arab Finance: Egyptian homeware brand ariika is targeting to access the Gulf markets, taking the Saudi market as the starting point, the company’s CEO Khaled Attallah said in an interview with Asharq Business.

Attallah noted that the firm would begin its business activities in Saudi Arabia before the end of 2023, adding that the company’s headquarters in the Gulf region would be in the kingdom.

Furthermore, the company will lead a $5 million funding round at the beginning of 2024 to expand in the kingdom, Attallah said.

Earlier in July, Beltone Venture Capital, a wholly owned subsidiary of Beltone Financial Holding, acquired a 20% stake in ariika for a total of EGP 31 million.

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