Ariika and Lychee Expand to Saudi Arabia with Beltone VC Funding

Egyptian consumer brands Ariika and Lychee are expanding their presence in Saudi Arabia, planning to open a combined total of five new stores in Riyadh with financial backing from Beltone Venture Capital (BVC). BVC, the venture capital arm of Beltone Holding, has increased its investment in the companies to support their regional growth strategy.

Ariika, a direct-to-consumer home furnishing brand led by Khaled Attallah, will launch two stores. Lychee, a healthy food and beverage brand founded by Mohamed Assy, will open three stores as part of its expansion into the Saudi market.

The move signifies BVC's strategy to cultivate homegrown Egyptian brands into dominant regional players. "Ariika and Lychee represent exactly what we look for – homegrown Egyptian brands with proven profitability and the ambition to redefine their categories across the region," said BVC CEO Ali Mokhtar.

Ariika founder and CEO Khaled Attallah stated that Saudi Arabia has always been central to his company's regional vision. The opening of two stores in Riyadh is presented as a significant step for the brand's presence in the Saudi market.