Table of Contents
Key Points
- Khamis family's stake in Oriental Weavers rose by $16.75 million in the past month, bringing total value to over $176 million.
- Oriental Weavers shares gained 10.48% amid AI-powered showroom rollout and expanding digital innovation strategy.
- Despite recent rebound, stock remains down 10.22% year-to-date as Egypt faces macroeconomic pressures and investor caution lingers.
The Khamis family, one of Egypt’s most prominent business dynasties, has seen their stake in Oriental Weavers grow by EGP827.9 million ($16.75 million) over the past month, lifting the market value of their holding to more than $176 million. This reinforces their firm grip on Egypt’s textile industry and underscores their ongoing influence on the Egyptian Exchange.
Khamis family stake rebounds sharply
At the helm is Yasmine Mohamed Khamis, who leads the company alongside her siblings. Together, they hold 56.48 percent of Oriental Weavers—the world’s largest producer of machine-made carpets. With about 376.32 million shares under their control, the family’s investment has bounced back sharply in the past 29 days, following a brief downturn.
Just weeks earlier, between April 27 and May 19, the value of their stake had slipped by $10.16 million, dropping from EGP8.74 billion ($174.74 million) to EGP8.23 billion ($164.58 million). The recent recovery not only wipes out that loss but also signals renewed investor confidence—both in the company’s direction and in the Khamis family's leadership.
Oriental Weavers shares rally 10.48%
Oriental Weavers, established in 1979 and listed on the Egyptian Exchange since 1997, has built a global presence in carpets and textiles. With manufacturing facilities in Egypt, China, and the United States, the company exports its products to nearly 150 countries around the world.
In recent weeks, its stock has climbed sharply. Shares on the EGX rose by 10.48 percent—from EGP21 ($0.425) on June 19 to EGP23.2 ($0.469)—lifting the company’s market capitalization to more than $312 million. That surge has delivered significant gains for shareholders, particularly the Khamis family, who hold a controlling stake.
Egypt’s Khamis family stake up nearly $17 million
But there’s more driving interest in the company than just its stock price. Oriental Weavers is making a push into digital innovation, unveiling what it says is the world’s first AI-powered “phygital” carpet showroom. The concept blends physical shopping with digital tools that let customers visualize and personalize carpets before making a purchase—bringing a modern touch to an age-old product.
The company’s efforts tie into a broader shift across Africa, where more retailers are turning to AI and digital platforms to reshape how they serve customers. Oriental Weavers is also partnering with Cassava Technologies, a key player in the continent’s digital infrastructure, as part of its strategy to modernize operations and stay ahead in a fast-changing market.
For the Khamis family, these developments have paid off. Their stake in the company has risen in value by EGP827.9 million ($16.75 million) over the past month—up from EGP7.90 billion ($159.93 million) on June 19 to EGP8.73 billion ($176.68 million).
Year-to-date stock performance still lags despite recent rebound
Even with the recent double-digit rally, Oriental Weavers shares are still down 10.22 percent for the year—an indication that investors remain cautious as Egypt continues to face economic uncertainty and currency pressures. A $100,000 investment in Oriental Weavers stock at the beginning of 2025 would currently be worth just $89,780, reflecting a paper loss of $10,220.
