Italian President Sergio Mattarella has issued a decree granting Italian citizenship to Rachid Mohamed Rachid, an Egyptian-born luxury entrepreneur, in recognition of his outstanding achievements in the realms of economics and business.
The Italian Cabinet has backed the decision, which recognizes Rachid's significant contributions to the business, innovation, and economic landscapes in Italy and beyond.
Rachid’s deep understanding of and sincere connection to Italian culture has bolstered Italy’s global reputation. He previously received the highest Italian honor, the Order of Merit, from former Italian President Giorgio Napolitano in 2010.
Rachid, who is the CEO of Mayhoola for Investments and the chairman of the board of directors of Alsarah Investment Group, one of the leading companies operating in the area of consumer goods, luxury, and fashion, hailed Italy as a beacon of excellence across various sectors, and said, “I am honored to receive this token of esteem from a country I have always believed in.
“Italy is an example of excellence and passion in every sector. I will continue to support Made in Italy, promoting the values we believe in talent, creativity, and innovation.”
Rachid Mohamed Rachid is a notable figure in the world of business and investment, particularly within the luxury goods sector.
His foray into global fashion brands began in 2012 when he assumed the role of CEO at Mayhoola for Investments, which owns renowned Italian fashion house Valentino and French fashion house Balmain.
Rachid has also held prominent positions such as vice chairman of the board of directors at Lipton, a global tea company, and served on the management board of Unilever.
Additionally, he is recognized as the founder of several international companies specializing in consumer goods and food industries.
In 2017, Rachid established the Alsara Investment Group, a Swiss-based holding company focused on construction and investment in luxury brands.
Notably, Rachid, born in Alexandria, served as Egypt’s minister of foreign trade, industry, internal trade, and investment from 2004 to 2011 before entering the business world.
