Al Arafa for Investment signs joint venture with Gheradi S.r.l

CAIRO – 21 August 2017: Al Arafa for Investment in Marketing and Distribution of Garments signed on Sunday a joint venture with the Italian Gheradi S.r.l to establish an AED 100,000 ($27,224) firm called Italian Shirts DMCC.

Al Arafa for Investment, subsidiary to Arafa Holding, will own 40 percent in the new company which will be established in Dubai Multi Commodities Center, while Gheradi will acquire 50 percent in addition to the minority stake owned by one of the investors, according to an EGX statement.

The new company will market the two companies’ products and will enable Al Arafa to serve the wide customer base of Gheradi.

Arafa Holding is a leading global textiles and apparel manufacturer and retailer based in Egypt, with a network reaching more than 70 countries worldwide. The group serves a diverse global audience, including top international brands and global retailers, according to the firm’s website.