DUBAI: Saudi fashion brands 1886 and Abadia secured historic international investments at an investment roadshow hosted by the Saudi Fashion Commission in New York City on Tuesday.
The first-of-its-kind involvement in Saudi fashion brands by an international investor will see 1886 and Abadia’s founders supported by cash incentives from Turmeric Capital and matching support in services from the Fashion Commission.
The collaboration between Turmeric Capital and the two brands was also complemented by a Memorandum of Understanding between the firm and the fashion, which will see both organizations share resources and expertise to enable the development of globally competitive brands rooted in Saudi culture.
“From Paris to Milan, to New York, the Saudi Fashion Commission is traversing the globe to support the Saudi fashion sector as it grows and supports diversification of the Saudi economy,” said Burak Cakmak, CEO of the Saudi Fashion Commission, in a statement.
“The return to New York this year is an incredible moment where we are witnessing key milestones – for Saudi brands as we help them secure international investment, for the Commission as we continue to put our mark on the global stage and for the Saudi fashion industry as public awareness grows.”
