BinDawood Holding pushes further into ecommerce and technology with Ykone acquisition

BinDawood Holding pushes further into ecommerce and technology with Ykone acquisition

Jeddah, Saudi Arabia – BinDawood Holding Co. (Tadawul: 4161 and the “Company”), through its wholly owned subsidiary, Future Technology Retail (“FTR”), a technology and retail solutions investment company, announces the acquisition of an 80.5% stake in Ykone, a subsidiary of TF1 Group, a French leader in content production, publishing and distribution. The transaction will be completed through FTR’s newly established French subsidiary company.

Ykone is a profitable international influencer marketing agency with a proprietary technology offering, focused on travel, beauty, fashion and luxury brands, with a presence in Europe, Asia, the US and the Middle East. It provides end to end services on strategy, talent management, content production and monitoring to more than 200 leading brands across the globe including the MENA region. The strategic investment will position BinDawood Holding to maximize on the growth of retail ecommerce through digital marketing, and to further deepen its e-commerce value chain.

In turn, Ykone will benefit from the financial and commercial support of BinDawood Holding to further improve its technological platform, to diversify into other industry segments and verticals and to gain deeper access to the Middle East markets where it has already achieved some success and penetration. Influencer marketing is now considered to