Turkish textile giant Katia&Bony to invest $50M in Egypt

Amid improving diplomatic relations between Türkiye and Egypt and rising production costs in Türkiye, Turkish textile companies are increasingly investing in Egypt.

Katia&Bony, a company founded in 2011 that produces for its brand and various global brands, is gearing up to launch sock manufacturing operations in Egypt with an investment of $50 million. The company, which has grown to operate 10 retail stores in Türkiye, also produces underwear, homewear, beachwear and accessories.

Details on Katia&Bony’s investment

The company, with nearly 50 retail outlets across Türkiye, exports to Europe through its parent company, Bonysocks, supplying major brands. Last week, Bonysocks’ $50 million investment was announced at a meeting held at the Turkish Embassy in Egypt. The event was attended by Ambassador Salih Mutlu Sen and company representatives.

According to business-focused Ekonomim‘s report, Ambassador Sen emphasized the rapid improvement in Turkish-Egyptian relations and highlighted the strong support from Egyptian officials for encouraging investments.

He pointed to President Abdel Fattah el-Sisi’s engagement with foreign investors as evidence of Egypt’s commitment to Turkish investments, describing Egypt as a strategic partner in industrial and technological collaboration.

Egypt pledged comprehensive support

The Egyptian General Authority for Investment and Free Zones pledged comprehensive support to Bonysocks, ensuring smooth financial and legal processes. The investment aims to bolster sustainable development, generate significant employment and cut carbon emissions by 50%.