Alsara Investment Group names new CEO

Switzerland-based Alsara Investment Group, founded by Rachid Mohamed Rachid, which is preparing to revive Walter Albini, has appointed Shahzad Akhtar as its new chief executive.

In a statement, Alsara said that the appointment is part of the group’s strategy to accelerate the brands in its portfolio, which also includes Akoni, which produces eyewear for Valentino and Balmain, Italian label Khrisjoy, jewellery brand Azza Fahmy, investment platform Bidayat, design venture Fromm, and Egypt-based handbags label Okhtein.

The company said that it would leverage Akhtar's expertise in marketing and global strategy as he is an “accomplished business leader who has a track record of delivering growth and multiplying profits in the most complex and challenging market settings”.

Rachid Mohamed Rachid, founder and chairman of Alsara Investment Group, said: “Shahzad Akhtar, with his considerable experience in brand building and leading businesses 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.”

Akhtar, who took up his role on July 1, completed his MBA at INSEAD in France. He started his career as a consultant with Accenture and rose through global commercial organizations, including Unilever and Whirlpool, before advising senior leaders at global companies.

Commenting on his new role, Akhtar added: “Alsara offers an exciting opportunity to build the next generation of luxury brands on the pillars of talent, great products and innovation.”