Homzmart and Misr El Amreya Sign Strategic Agreement to Boost Textile Industry and Support Egyptian Exports
Homzmart, a leading online furniture retailer in Egypt and Saudi Arabia, has announced a strategic partnership with Misr El Amreya for Spinning and Weaving, a subsidiary of Bank Misr, specializing in textiles and home fabrics. This partnership aims to enhance collaboration between the two companies in manufacturing and marketing various high-quality textile products, contributing to the growth of the local industry and opening new markets. This aligns with the government’s presidential initiative, which targets $145 billion in exports by 2030.
The agreement was signed in the presence of Mahmoud Ibrahim, CEO of Homzmart, and Ahmed Amr Ragab, CEO of Misr El Amreya for Spinning and Weaving, alongside several executive leaders from both companies.
As per the agreement, Misr El Amreya will produce a wide range of textile and home furnishing products under the “El Amreya Home Furnishings” brand, specifically designed for display on Homzmart’s platform. This initiative aligns with Homzmart’s mission to meet customer needs both domestically and internationally while strengthening local manufacturing capabilities. The partnership also aims to expand operations in the textile sector, which is one of Egypt’s oldest and most reputable industries globally.
Commenting on the partnership, Mahmoud Ibrahim, CEO of Homzmart, stated, “Over the past five years since launching Homzmart, we have successfully offered thousands of products needed for the modern home, making our platform the leader in this field. This agreement marks a significant step towards expanding our business and increasing the availability of textile and fabric products to meet growing demand within Egypt and abroad. Moreover, our collaboration with the reputable Misr El Amreya supports the local economy and further develops Egypt’s furniture and textile industries.”
Ahmed Amr Ragab, CEO of Misr El Amreya for Spinning and Weaving, expressed his excitement about this strategic partnership with Homzmart, emphasizing that it will directly support and develop Egypt’s textile industry. He added that the agreement opens new avenues for increasing Egyptian exports and expanding targeted markets, which will enhance the competitiveness of Egyptian products on a regional and international level. This aligns with the Egyptian government’s vision to support and develop the industrial sector.
In the same context, Hadi Al Daour, Head of the Textile Division at Homzmart, noted that there has been an increasing demand for fabrics and home textiles recently, which requires further development and support for this industry to meet diverse customer needs. He highlighted that the partnership between Homzmart and Misr El Amreya is part of a mutual commitment to enhance this market and penetrate global markets through high-quality products. He expects textile products to account for 20-30% of the company’s sales within the next two years.
Through this agreement, Misr El Amreya will also provide technical consultations related to the textile and fabric sector to Homzmart, leveraging its long-standing expertise in the field to deliver exclusive, distinguished products for Homzmart’s customers.
