PRESSR: Eight Clouds Investments includes local company Stitches in a deal worth more than AED 30 million
- Eight Clouds Investment intends to triple Stitches' market share over the next five years through technological improvements, cost reductions and job creation within the framework of environmental sustainability initiatives.
Eight Clouds Investment intends to expand Stitches to include all parts of the GCC and beyond.
Dubai, United Arab Emirates: As part of its efforts to expand its portfolio of diverse and influential brands in the region, Eight Clouds Investment Company, a prestigious company based in the United Arab Emirates and famous for its support of brands in the consumer retail sector, announced today the... Exceptionally competitive, it announced the inclusion of Stitches Company, a local Emirati company established in 1995 to manufacture and produce uniforms, in a deal worth more than 30 million UAE dirhams.
Since its inception, Stitches has grown over the years from a humble company to a leader in the uniform industry. From its factory and flagship store in Al Quoz, Dubai and its other facility opening in Sharjah in 2023, Stitches offers a wide range of both uniforms and bespoke uniforms. A large number of public and private schools in the United Arab Emirates benefit from the company's services, in addition to the corporate, hospitality, medical and other sectors.
Through the inclusion of Stitches, Eight Clouds Investments intends to triple its market share in the manufacturing, retail and wholesale sectors over the next five years, and support the company’s further expansion throughout the UAE, the GCC and beyond.
Commenting on this deal, Sharaz Hussain, Co-Founder and Managing Director of Eight Clouds Investment Company, said: “Adding Stitches, with its heritage and significant presence in the market, is more than just a business decision, but rather an affirmation of our firm belief in the thriving world of entrepreneurship in the UAE.” Which is embodied by Stitches in a story full of dedication, growth, and partnership, and is in line with the spirit of leadership that we strive to enhance and advance globally. Through this cooperation, EightClouds will work closely with the new leadership team at Stitches in order to drive the company’s growth and expansion throughout the Emirates. “Thus enhancing the customer experience while preserving the brand’s heritage, principles and quality that customers have always known.”
Recognizing the enormous potential of the uniform manufacturing sector, Eight Clouds intends to invest significant amounts to bring in the latest technologies, machines, artificial intelligence and automation tools, in order to streamline operations, intensify research and development efforts, generate employment opportunities, and strengthen the company's commitment to sustainability.
For his part, Mozi Azzam, General Manager of Stitches, said: “Following the merger of iClouds Investments into Stitches, we have many opportunities for growth. With iClouds Investments’ proven track record in propelling brands to international fame, this means that Stitches’ legacy is on the verge of Significant prosperity, along with expanding the product range increases the market presence and growth opportunities for our talented team. Allow me to commend the dedication that iClouds shows to its environmental, social and governance initiatives, which I personally see as a critical and transformative step towards a sustainable future. It will ensure Our shared vision is for each member of our team to play a pivotal role in this exciting new chapter, thus strengthening our relationship with our customers.”
As a member of the United Nations Global Compact, the largest corporate sustainability initiative in the world, Eight Clouds continues to strengthen its commitment and fulfillment of its responsibility as a conscious company by ensuring the adoption of sustainable practices across its portfolio of brands. As part of the current acquisition, Aruna Narayanan, Strategic Advisor for Sustainability at Eight Clouds Investments, will work closely with the Stitches team to develop a comprehensive ESG strategy and framework, as well as a roadmap to be rolled out from 2024. Some of the initiatives include: Its uniform recycling, expanding the existing range of multi-use items made from recycled old uniforms, such as bags, toys and stationery.
It is worth noting that iClouds continues to build a strong presence in the investment scene, as it owns a prominent portfolio that includes multiple brands such as Chaps & Co., More Café, and Ezio. The company continues to continuously expand its projects in the beauty and luxury, hospitality, technology, clothing, and manufacturing sectors, which reflects its belief that the future of brands in the consumer sector is being carved with great craftsmanship in the United Arab Emirates, in line with Eight Clouds’ vision to invest in expanding the scope of brands. Starting from the UAE all the way to the world.
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About Eight Clouds Investment Company
Eight Clouds Investment Company is headquartered in the United Arab Emirates and specializes in investing in consumer brands that have a unique competitive advantage. The company was founded in 2022 by Mark Aitchison with the aim of providing entrepreneurs and businesses in the region with the support and tools they need to realize the full potential of their companies.
Eight Clouds Investment works alongside founders to facilitate their access to financial support and essential resources, and provides them with intellectual insights and tactical and strategic advice, seeking to help them scale their business to a global level.
Current brands in Eight Clouds Investment Company's portfolio include Chaps & Co, More Cafe and Ezio. With its focus on strategic expansion, the company continues its ongoing projects of acquisition and franchising in the beauty, luxury, hospitality, technology, apparel, and real estate sectors, among others. The company follows global best practices in line with common local needs to support its vision of establishing and developing the next generation of global consumer brands in the United Arab Emirates.
For more information, please visit www.eightclouds.ae or contact us at info@eightclouds.ae
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