Dive Brief:
- Alsara Strategic Investments, the Switzerland-based investment firm, has appointed Shahzad Akhtar to the newly created position of CEO, as confirmed by a LinkedIn post on Akhtar’s page.
- The executive previously held executive positions at Revlon India, where he was general manager; Whirlpool India, where he was a vice president and general manager; and Unilever, where he was a vice president of marketing. Akhtar came to Alsara in December 2022 as chief marketing officer.
- Alsara owns several fashion interests including Bidayat, the investment firm that recently purchased the archives and intellectual property of soon-to-relaunch Italian fashion line Walter Albini.
Dive Insight:
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.
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.”
Paris-based fashion gossip magazine Miss Tweed has suggested that former Gucci creative director Alessandro Michele, who left abruptly late last year, might be in the running to help relaunch the Albini line, which was acquired earlier this year for an undisclosed amount.
