Kattan sisters look to pre-loved fashion with latest investment

Huda and Mona Kattan are now shareholders in The Luxury Closet. File/Getty
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Updated 03 September 2020

Kattan sisters look to pre-loved fashion with latest investment

DUBAI: For the fashion obsessed, shopping for vintage finds has never been easier or more accessible, with thousands of independent collectors selling their ‘90s-era Dior and hard-to-find ‘70s-era Yves Saint Laurent online, specifically through Instagram accounts.

In the Middle East, online platforms specializing in selling pre-loved luxury items are popping up fast, facilitating the sale of second-hand items. 

One notable example is The Luxury Closet (TLC), an e-portal for authenticated, pre-owned high fashion items. Boasting an inventory of more than 80,000 luxury items that range from Hermes Birkins to Rolexes, the online marketplace has grown since its launch in 2012 – TLC posted steady 80% growth year-on-year – and it is showing no signs of slowing down.

 
 
 
 

 
 
 
 
 
 
 
 
 
 
 

A post shared by The Luxury Closet (@theluxurycloset) on

This week, the platform partnered up with US-Iraqi entrepreneur Huda Kattan, who has become a principal shareholder in the company. The pre-loved luxury fashion marketplace received investment from HB Investments (HBI), the private investment company owned by the Dubai-based beauty mogul, her sisters – Alia and Mona, and her husband Chris Gonçalo.  

The 36-year-old, who launched her beauty empire in 2013, will join the board of TLC, alongside her younger sister and co-founder of Huda Beauty, Mona Kattan, and existing TLC shareholders.

“Sustainability is one of our primary focuses and a core tenant for the HBI portfolio,” said Huda in a released statement. “In our continued effort to champion responsible and eco-friendly businesses, we couldn’t be more enthusiastic about our partnership with The Luxury Closet.”

 
 
 
 

 
 
 
 
 
 
 
 
 
 
 

A post shared by The Luxury Closet (@theluxurycloset) on

Echoing her statement, Mona added: “I have always been an advocate of circular fashion and I am very excited about our endeavors with The Luxury Closet.”

The decision to invest in the Dubai-based resale marketplace is personal to the Iraqi sisters, who used to purchase luxury items from vintage and second-hand shops.

“At the beginning of our entrepreneurial journey, we did not have the means to purchase (luxury) items and thus opted for vintage and second-hand shops,” they said in the statement. “I’m very pleased to be part of the board alongside like minded individuals and a business that offers a unique service that fills a major gap in the market,” Mona added.  


Egypt collector accumulated over 100 vintage cars

Updated 28 October 2020

Egypt collector accumulated over 100 vintage cars

  • Among the famous figures who once rode one of Sima’s cars was former Egyptian president Anwar El-Sadat
  • Sima’s oldest car is an Auburn which he acquired in the 1980s

CAIRO: Sayed Sima says he was around 25 years old when he began collecting vintage cars, attracted by their beauty and rarity. They were also relatively cheap.
More than half a century later Sima, a nickname derived from the Egyptian slang for cinema, says he now owns hundreds of vintage cars, some of which he keeps in Egypt’s Media Production City where directors often rent the antiques for shows and films.


Sima’s oldest car is an Auburn which he acquired in the 1980s.
“This is of course a very rare car, a car that is entirely a piece of antique,” he said, while sitting in the Auburn showcasing its wooden frame and steel coating.
“Its original tank is still inside. It’s a beautiful car. Its structure is all wood.”
Sima remains fascinated by the way older cars operate.
His 38-year-old son, Ayman, shares this peculiar passion. He grew up seeing his father’s cars in movies.


“I also liked how I saw these cars on movie screens. I would see a movie and think, oh it is our car,” he said.
Among the famous figures who once rode one of Sima’s cars was former Egyptian president Anwar El Sadat, whose presidential car was a black 1975 Chevrolet Impala, said Sima.