Announcement comes as the brand takes up residence in The Opus, designed by Zaha Hadid
Dubai, UAE: Covetor – the disruptive consumer business focused on bringing emerging brands to the Middle East, India and Russia – today announced its commitment to invest US$50M in facilitating the entry of disruptive, innovative brands into the market, over the next five years.
Covetor’s unique strategy centres around providing a full investment and services offering to ensure brands are able to scale up successfully in these markets. Funds will be allocated to Covetor’s portfolio brands in the form of equity investment and working capital to aid their expansion.
David Bisset, Managing Partner, Covetor, said: “With traditional investment models, capital is injected into a business and a brand is then under pressure to create its own growth. That’s where Covetor is different, we act as the brand in the region, we provide all of the tools needed for brands to scale up in a sustainable way.”
Covetor is not a traditional distributor with hundreds of brands, rather, it is set on crafting a strategic portfolio of brands. Covetor will launch its first selection of brands in Q4 2021. Covetor’s objective is to bring to market the brands that consumers want but cannot otherwise access today.
Coinciding with the commitment, Covetor has opened its physical office location, located with The Opus. Designed by renowned architect, Zaha Hadid, The Opus is an architectural wonder located in Dubai’s Burj Khalifa district, with its modern design reflecting the modern approach and ambitions of Covetor.