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Fashion 180 alliance plans to invest EGP 10bn in Egypt

Fashion 180 alliance plans to invest EGP 10bn in Egypt
The alliance includes 11 clothing companies

By: Abdullah Bedeir

Cairo – Mubasher: Head of Fashion 180 alliance Ahmed Smakieh on Thursday announced the formation of the biggest alliance for clothes trading and manufacturing in Egypt under a single trademark, with total investments of EGP 5 billion.

The alliance includes 11 ready-made clothes and fabric products companies, Smakieh added in a press conference.

The top official noted that the alliance is expected to increase investments to EGP 10 billion over five years.

Researches in local and global markets confirmed that 2020 will be the year of mergers and big entities, Smakieh said.

He revealed that Fashion 180’s objectives include protecting markets against dumping and allowing Egyptian companies to enter global markets.