Deal positions retailer for sustainable long-term growth
Riyadh, Saudi Arabia-headquartered Taj Holdings has announced 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 Holdings and 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 Holdings resources and assets will support Beside to achieve this growth through multiple channels including; geographical expansion, diversifying revenue streams and portfolio development.
“The acquisition marks our most significant investment in the retail sector and is a landmark investment for Taj Holdings 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,” commented Omar Henaidy, Founder-Chairman & CEO, Taj Holdings Group.
Henaidy will also take on the roles and responsibilities of Chairman & CEO of Beside.
Taj Holdings Group is currently working in a number of sectors of opportunity including: public transport sector, supply chain, defence, manufacturing and logistics, among other verticals.
