The Swiss-based group behind the company has tapped the former Unilever executive to manage its portfolio of fashion brands from across the Middle East and Europe.

Akhtar has led several business units across the UK, India and other markets. Starting his career as a consultant at Accenture, the veteran manager has worked for a diverse array of companies including Revlon and Whirlpool, with a particular focus on marketing and global strategy. He completed his MBA at INSEAD in France.

“Shahzad Akhtar, with his considerable experience in brand building and leading businesses will be able to work with the brand teams to drive an ambitious agenda on the existing portfolio of brands and lay the foundations for further acquisitions,” said Rachid Mohamed Rachid, founder and chairman of Alsara Investment Group, the parent of Alsara Strategic Investments.

Rachid launched Bidayat, the group’s subsidiary investment vehicle in 2021 to target brands in the Mediterranean Basin region. Brands in the group’s overall portfolio include Italian outerwear label Khrisjoy, eyewear brand Akoni, Flyroom, Fromm, Egyptian jeweller Azza Fahmy and handbag maker Okhtein. The group is also preparing to relaunch the dormant Italian fashion house Walter Albini.

Separately, Rachid is chief executive of Mayhoola for Investments, the Qatari fund that owns Valentino, Balmain and Pal Zileri.

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Bidayat Takes Stake in Egyptian Jewellery Brand Azza Fahmy

Bidayat, a subsidiary of Alsara Investment Group, the investment vehicle founded by Valentino board chairman and Mayhoola chief executive, Rachid Mohamed Rachid, has taken an undisclosed minority stake in Egyptian jewellery brand Azza Fahmy.