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magmasportswear.com

Founded Year

2018

Stage

Management Buyout | Alive

About Magma

Magma sells a wide range of fitness clothing and training essentials such as tops, t-shirts, pullovers, shorts, pants, and more through its e-commerce platform. It was founded in 2018 and is based in Cairo, Egypt.

Magma Headquarter Location

21 El Adib Ali Adham st. Sheraton Heliopolis, Building 2, 1st Floor, Aprt #1

Cairo,

Egypt

+20222689818

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Latest Magma News

Mohamed El-Sewedy acquires Magma through VC firm Averroes Ventures

Jul 21, 2022

byWAYA Staff -Jul 21, 2022 Share   URL Copied to clipboard Magma, Egypt’s sportswear-manufacturer, has been accquired by Mohamed El-Sewedy through venture capital firm Averroes Ventures. The Egypt-based sportswear brand was launched in 2018, and was one of the first Egyptian manufacturers to include features such as antibacterial properties and fast drying in its products. “We believe in the growth potential of native brands and designs accompanied by cutting edge technologies together with the growing demand of e-commerce, creating a winning formula for Magma. The new investments and the management team are well capable of transforming this company to a global player in the growing sector of sportswear and athleisure,” said Ahmed Alsharif, Co-founder and CEO of Averroes Ventures. Following this acquisition, Magma plans on opening of a store in Egypt in 2023, further expand onto the MENA and GCC markets and invest in diversifying their product portfolio. Magma aims to reach new market segments, and has plans to enter new markets such as teamwear, footwear and accessories. “These are significant milestones in the company’s journey. I expect Magma will become a leading global sportswear brand in the region, by investing in product materials and textiles based on the latest technology, as well as the latest know-how in e-commerce,” Mohamed El-Sewedy, Magma’s Chairman also commented.

  • When was Magma founded?

    Magma was founded in 2018.

  • Where is Magma's headquarters?

    Magma's headquarters is located at 21 El Adib Ali Adham st., Cairo.

  • What is Magma's latest funding round?

    Magma's latest funding round is Management Buyout.

  • Who are the investors of Magma?

    Investors of Magma include Management Buyout (MBO) and Averroes Ventures.

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