In light of the quickening economic growth and increasing population levels in the region have led to an inflow of investments in the consumer industry by several companies and private-equity firms. Due to the recently improved attractiveness of the market, the owners of the Azadea Group began a sale process this month to sell 25% stake in their company, with an aim to raise $300-$400M.
Azadea was founded in 1978 by Wassim Daher and has evolved to operate more than 500 stores for 50 international franchises in industries including clothing, multimedia, food and sporting goods brands. The most significant of these franchises are Zara clothing and Virgin Megastore.