E-commerce players TFK + Opio are now one: Egyptian fashion e-commerce platform The Fashion Kingdom (TFK) has fully acquired Egyptian womenswear startup Opio, according to a joint statement (pdf) yesterday. Information about the value of the transaction wasn’t made public.

A share swap: This is a share swap transaction where both companies merge to create a new entity that will retain the TFK name, co-founder and CEO of Opio Shady Mokhtar told Enterprise yesterday. Mokhtar declined to disclose the details of the share swap or the ownership of the new company.

Scaling via acquisitions: The new entity, which the companies term “an all-in-one fashion aggregator and venture builder,” will focus on acquiring and developing online and offline fashion brands across the region, according to the statement. “The acquisition of Opio is a strategic move that complements and completes our ecosystem,” said TFK founder and CEO Fadi Antaki. “We are creating an all-in-one ecosystem that combines OPIO’s D2C

expertise with TFK’s marketplace infrastructure.”

The board: Antaki will be the CEO of the new company and Mokhtar will be the chief strategy officer, Mokhtar said, adding that the existing shareholders and management teams of both companies will remain part of the newly-created entity.

Three new brands in the pipeline: The company will soon expand its portfolio by launching a new brand dubbed Saltwater Circle next week and two more brands, FE and No Apologies, in 4Q, Mokhtar told us.

Advisors: TFK appointed White & Case as its legal advisor, Mokhtar told us without giving further details.

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