Thob Al Aseel subsidiary sets up global fashion retail firm

17/12/2024 Argaam
Logo ofThob Al Aseel Co.

Logo of Thob Al Aseel Co.

Thob AlAseel Co., a ready-made garment trading company, has set up a commercial company, Jada Al-Harir Trading Co., with a capital of SAR 36.4 million.

 

Aseela Trade will hold a 45% stake in the new company, while the remaining 55% stake will be owned by Turkey-based İpekyol Giyim Sanayi Pazarlama ve Ticaret Anonim Şirketi, Thob Al Aseel said in statement to Tadawul.

 

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Aseela Trade previously acquired Jacadi and Promod trademarks.

 

The new company is part of Thob Al Aseel’s strategy to enter the international retail sector, expanding its business activities and strengthening its market presence.

 

This expansion is expected to positively impact the company's financial performance starting Q1 2025, the statement added, indicating that it is currently developing an implementation plan and identifying suitable locations for its operations.

 

There is no related party in this transaction, the statemen said.

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