Beltone Venture Capital (BVC), the venture capital arm of Beltone Holding, is strengthening its support for two of Egypt’s fastest-growing consumer brands, ariika and Lychee, as both companies accelerate their expansion into Saudi Arabia.
The expansion will see a combined five new retail stores open in Riyadh, with home furnishings brand ariika launching two locations and healthy food and beverage chain Lychee opening three.
BVC said the move reflects its strategy of helping high-growth Egyptian companies scale beyond their home market and establish themselves as regional consumer brands.
Ali Mokhtar, CEO of Beltone Venture Capital, said:
“ariika and Lychee represent exactly what we look for—homegrown Egyptian brands with proven profitability, exceptional leadership, and the ambition to redefine their categories across the region. We are long-term partners in building the next generation of MENA consumer powerhouses. With a combined five new stores opening in Riyadh, this is just the beginning.”
Khaled Attallah, CEO and Co-Founder of ariika, described Saudi Arabia as a key market in the company’s regional strategy.
“Saudi Arabia has always been central to our regional vision. Opening two stores in Riyadh is not just an expansion, it is a statement. We have built a brand that resonates deeply with consumers who value design, quality, and an exceptional experience, and we are confident that ariika will find its home in the Saudi market just as it has across Egypt and Iraq. This is the next chapter, and we are only getting started.”
Mohamed Assy, Founder and CEO of Lychee, said the company has spent years preparing for the Saudi market.
“Saudi Arabia is not just another market for us—it is the foundation of our regional ambition. We spent considerable time understanding the Saudi consumer, their tastes and expectations, before committing to this expansion. Opening three stores in Riyadh is our declaration that Lychee belongs in this market, and we intend to lead the healthy F&B space here just as we have done in Egypt.”
