Arafa Holding establishes JV with Italy’s Gherardi to export ready-made garments

Arafa Holding established a joint venture with Italian garment-maker Gherardi at the Dubai Multi Commodities Centre yesterday, according to an EGX filing. The company named Italian Shirts DMCC will manufacture ready-made garments in Egypt and export its output to Europe. Arafa Holding will hold a 40% stake, Gherardi 50%, and an unnamed “strategic investor” will hold the remaining 10%.