Saudi Arabia's Jadwa Investment has acquired a majority stake of 70% in Kuwait-based Dabdoob Holdings, owner of the largest toy e-commerce application in the GCC.
This was Jadwa Investment’s first regional venture capital investment through Jadwa E-Commerce Opportunities Fund.
Founded in December 2017 in Kuwait, Dabdoob has evolved into a specialised e-commerce platform for toys and gifts, focusing on children aged 0-12 years old. After becoming the market leader in Kuwait, Dabdoob embarked on a regional expansion strategy by rolling out their best-in-class offering in all GCC countries, and plans to expand further across the wider Middle East and North Africa region.
Next stage of growth
Commenting on the investment, Tariq Al-Sudairy, Managing Director and CEO of Jadwa Investment, said: “Dabdoob’s management has demonstrated an exceptional ability to capitalise on important industry trends since the company’s establishment, and we look forward to contributing to Dabdoob’s next stage of growth through this partnership.”
Saad Al-Saif, Head of Private Equity at Jadwa Investment, added: “As private equity investors, we scan emerging trends and look to invest in and empower strong teams. Dabdoob has a well-recognised brand, strong product offering, unique wrapping, and same-day delivery. Together, these comprise a formula for success in the toys and gifts space.”
Speaking for Dabdoob, Mohammad Al-Hajeri, CEO, added: “Jadwa’s investment in Dabdoob constitutes an important milestone for the company, and a launch pad towards our next phase of growth. With Jadwa’s like-minded partnership and full-backing, we are now keen to accelerate the implementation of our strategic initiatives and expansion plans across the wider Mena region.”
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).