Dubai-based Beside Group is partner for a number of international fashions brands in the Middle East, including Diesel, Fred Perry Pinko and Scotch & Soda.
Saudi based investment group Taj Holding has acquired Dubai-based fashion retailer and distributor Beside Group.
Beside Group is partner for a number of international fashions brands in the Middle East, including Diesel, Fred Perry Pinko and Scotch & Soda.
Taj Holding said its mid- to long-term goal is to build on Beside’s success to-date and develop a strategy that leads to stable and sustainable growth.
The Saudi firm said it will utilise its resources and assets will support Beside in its growth through geographical expansion, diversifying revenue streams and portfolio development.
“We are proud and privileged to be joining forces with an industry leader such as Beside,” said Omar Henaidy Taj Holding Group chairman and CEO.
“The acquisition marks our most significant investment in the retail sector and is a landmark investment for TAJ Holding Group. It will also provide Beside Group with the necessary resources to accelerate our long-term strategy to becoming the best-in-class retailer in the region”.
Henaidy will also take on the roles and responsibilities of chairman and CEO of Beside.