Saudi’s Taj Holding acquires fashion retailer Beside Group

RetailME Bureau

Saudi Arabia-based investment group Taj Holding has acquired Dubai-based fashion retailer and distributor Beside Group. The latter is a leading partner for international brands in the Middle East, including Diesel, Fred Perry Pinko and Scotch & Soda.

Taj Holding & Beside Group are focused on a smooth transition with continuity being a key objective.  The mid to long term goal is to build on Beside Group’s success to-date and develop a strategy that leads to stable and sustainable growth. Taj Holding’s resources and assets will support Beside Group 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 – who also takes on the role of chairman & CEO of Beside Group – says, “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 Group. 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.”