Positions retailer for sustainable long-term growth
Taj Holding has announced this week the acquisition of Dubai-based fashion retailer & distributor ‘Beside Group’. Beside is a leading partner for international brands in the Middle East with a vast experience in both Retail and Wholesale, spanning several decades. Their portfolio includes some of fashion’s leading brands such as Diesel, Fred Perry Pinko and Scotch & Soda.
Taj Holding & Beside are focused on a smooth transition with continuity being a key objective. The 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. Taj Holding’s resources and assets will support Beside to achieve this growth through multiple channels including; geographical expansion, diversifying revenue streams and portfolio development.
Commenting on the deal, TAJ Holding Group Chairman & CEO, Omar Henaidy, said “I speak on behalf of everyone at Taj Holding Group when I say that we are proud and privileged to be joining forces with an industry leader such as Beside. 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”. Mr. Henaidy will also take on the roles and responsibilities of Chairman & CEO of Beside.
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About Taj Holding:
TAJ Holding Group is a Saudi based investment group with over a decade of history in supporting the establishment and development of businesses in the Kingdom. TAJ Holding Group are currently working with a particular focus in a number of sectors of opportunity including: Public Transport sector, Supply Chain Localisation - including Defence, Manufacturing and Logistics, Health Care and Wellbeing, Retail, Urban Development, Business to Business Services.
About Beside Group:
Beside Group directly operates several international fashion brands through their own monobrand store network in the UAE, Saudi Arabia, Egypt, Kuwait and Bahrain and distribute in the entire GCC & Levant regions via Wholesale and Franchising partners using our Dubai based showrooms. The group employs nearly 500 retail professionals with offices in the UAE, KSA & Egypt.
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