Former Revlon India exec Shahzad Akhtar moves into the newly-created position ahead of the relaunch of Italian fashion line Walter Albini.
What happened
Alsara was founded by Rachid Mohamed Rachid, the former Egyptian Minister of Trade, Industry and Investment. Rachid is also CEO of Qatari-based Mayhoola, which owns Valentino and Balmain, and he is chairman of both labels.
Why it matters
In 2021, Alsara bought a majority stake in Italian puffer brand Khrisjoy, and it also owns Akoni, which manufactures eyewear for both Valentino and Balmain.
Representatives from Alsara did not respond to a request for comment ahead of press time, but in a statement to Vogue Business Rachid said, “with his considerable experience in brand building and leading businesses [Akhtar] will be able to work with the brand teams to drive an ambitious agenda on the existing portfolio of brands and lay the foundations for further acquisitions.”
In the same statement, Akhtar said, “Alsara offers an exciting opportunity to build the next generation of luxury brands on the pillars of talent, great products and innovation.”
This news brief is based on reporting published by Fashion Dive on 2023-07-05. The original report is linked below.
Fashion Dive
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