IPO of Jamjoom Fashion
Jamjoom Fashion Trading Company (“Jamjoom Fashion” or the “Company”), a leading Saudi-based apparel and lifestyle group and a pioneer in creating and scaling brands across the KSA and the Middle East, and the group behind Nayomi and Mihyar, today announces its intention to proceed with an initial public offering (the “IPO” or the “Offering”) and the listing of its ordinary shares on the Parallel Market (Nomu) of the Saudi Exchange (“Nomu” or the “Parallel Market”).
Overview
Jamjoom Fashion creates and develops market-resonant brands through innovative concepts, modern designs, strong marketing, and exceptional in-store, online, and e-commerce shopping experiences.
- Leading Saudi apparel and lifestyle group. Jamjoom Fashion creates, develops, and scales home-grown brands that span six GCC markets and 218 physical stores as of 30 June 2025G, alongside a robust digital presence and growing loyal customer base.
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Portfolio anchored by flagship brands that have demonstrated robust growth and gained significant popularity.
- Nayomi: the region’s homegrown women’s intimate apparel and night-wear brand, and the Company’s first brand, which began operations in 1992G by Engineer Kamal Osman Jamjoom. Nayomi contributes 84% of total Company revenue as of 30 June 2025G.
- Mihyar: A brand that embodies the spirit of the modern national man—proud of his heritage yet forward-thinking—and combines traditional values with contemporary retail innovation. The brand was founded in 2012G offering Saudi national garments and fashion products. The brand accounts for 16% of total Company revenue as of 30 June 2025G.
- Both brands are designed with scalability in mind. Nayomi’s presence across six GCC countries demonstrates the appeal of its value proposition, and Mihyar is positioned to expand regionally as demand for ready-to-wear menswear that resonates with local tastes continues to grow.
- Fully integrated, “concept-to-consumer” (or “idea-to-shelf”) platform.Jamjoom Fashion controls its value chain - from product creative concept, design, to distribution and logistics, marketing, and both direct and digital customer engagement. The Company outsources manufacturing to professional and specialized third parties, providing it with greater flexibility and ensuring it maintains a capex-light model.
- Data-driven direct-to-consumer model, enabling customer loyalty. A key advantage for Jamjoom Fashion is its advanced CRM and data capabilities, enabling exciting engagement, high repeat-purchase rates, and achieving strong customer lifetime value.
- True omnichannel reach. Jamjoom Fashion has a comprehensive omnichannel sales approach, blending a store-based retail presence with enhanced online operations. Nayomi and Mihyar’s immersive flagship stores are complemented by unique e-commerce sites, mobile apps, social-commerce channels, and live-shopping events to support easy brand access and deliver distinctive and seamless shopping experiences.
- Nayomi: the region’s homegrown women’s intimate apparel and night-wear brand, and the Company’s first brand, which began operations in 1992G by Engineer Kamal Osman Jamjoom. Nayomi contributes 84% of total Company revenue as of 30 June 2025G.
- Mihyar:A brand that embodies the spirit of the modern national man—proud of his heritage yet forward-thinking—and combines traditional values with contemporary retail innovation. The brand was founded in 2012G offering Saudi national garments and fashion products. The brand accounts for 16% of total Company revenue as of 30 June 2025G.
- Both brands are designed with scalability in mind. Nayomi’s presence across six GCC countries demonstrates the appeal of its value proposition, and Mihyar is positioned to expand regionally as demand for ready-to-wear menswear that resonates with local tastes continues to grow.
Vision
To celebrate women feeling beautiful and men looking handsome.
Mission
To build a portfolio of engaging brands that bring dreams to life through immersive and captivating retail experiences.
Our Values
At Jamjoom Fashion, our legacy is built on a foundation of excellence, innovation & authenticity.
Woven into our culture, our teams drive our ambition, long-term vision, and commitment to the customer. By embracing them every day, we cultivate authenticity, collaboration, and excellence.
We put customers first
Our customers are at the heart of everything we do. We listen, adapt, and innovate to meet their evolving needs, delivering products and experiences that inspire loyalty and trust.
We pursue excellence
Excellence is at the heart of everything we do. We set high standards, refine our craft, and embrace innovation to create lasting products and experiences for our customers.
We are ambitious
We are one team. Ambition fuels everything we do, from bold decisions to breakthrough innovations. We push boundaries, set new standards, and lead with confidence.
We empower
Our culture is rooted in inclusivity and respect. We support and empower each other to succeed together. We see the big picture and collaborate across boundaries, sharing our skills and knowledge to create exceptional value for our customers and our company.
Leadership
Kamal Osman Jamjoom
Founder and Chairman
Commenting on the launch of the IPO, Eng. Kamal Osman Jamjoom, Founder and Chairman, said:
Jamjoom Fashion began as a family-owned business more than three decades ago when we started operations of Nayomi in 1992 to meet a clear demand for culturally appropriate women’s intimate apparel in Saudi Arabia. From that single store, we have transformed into a multi-brand, dynamic apparel and lifestyle group, launching category-leading brands including Mihyar and a growing suite of premium product sub-categories that together hold leadership positions in KSA in their respective segments.
Stephen Holbrook
Vice Chairman and Chief Executive Officer
Stephen Holbrook, Vice-Chairman and Chief Executive Officer, added:
At Jamjoom Fashion, we are building the Middle East’s premier apparel and lifestyle group by creating brands and experiences that resonate with local culture and taste, powered by data and innovation.
Jamjoom Fashion in Numbers
Financial Highlights
|
Year ended 30 September 2024G | Nine months ended 30 June 2025G |
|---|---|---|
| Revenue | SAR 612.2mn | SAR 540.2mn |
| Gross Profit | SAR 421.1mn | SAR 378.2mn |
| Operating Profit | SAR 90.9mn | SAR 99.7mn |
| Net profit after Zakat and income tax | SAR 81.9mn | SAR 94.3mn |
| Post-IFRS 16 EBITDA | SAR 208.6mn | SAR 205.2mn |
| Post-IFRS 16 EBITDA margin (as a % of revenue) | 34.1% | 38.0% |
Operational Highlights (as of year ended 20 September 2024G) |
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| Number of stores at period end | 215 | |
| Average revenue per store per period | 2,733 | |
IPO Timeline
Trading of the Company’s shares on the Saudi Exchange is expected to commence after all relevant regulatory requirements are satisfied. Trading will be announced on the Saudi Exchange’s website (www.saudiexchange.sa)
Monday 01 September 2025G
Price Range
01 September 2025G
Offering Period Commences
End of Day 04 September 2025G
Offering Period Ends
09 September 2025G
Final Offer Price
09 September 2025G
Allocation of Shares
11 September 2025G
Refund of Excess Monies (if any):
Investment Highlights
Operating in a Growing Market Fuelled by Attractive Macro-Tailwinds
Leading the Market with a Homegrown Innovative Brand Portfolio
A Well-Crafted Business Model: Maximizing Efficiency Across the Entire Value Chain—from Concept to Store
Category Killing Mentality Allowing for a Strong Physical Footprint and Backed by Landlord Relationships Shaping the Physical Footprint Strategy
Synergistic Omni-Channel Approach, Seamlessly Integrated with Robust Technology and Digital Capabilities to Enhance Customer Experience and Drive Growth
Robust Financial Performance with Solid Top Line Growth, Healthy Margins and High Free Cash Conversion, Underpinned by Economies of Scale and Operational Expertise
Seasoned Industry Leadership Driving a Unique Talent Pool and Supported by a Reputable Shareholder
FAQ's
Jamjoom Fashion Trading Company (“Jamjoom Fashion” or the “Company”) is a leading Saudi-based apparel and lifestyle group and the group behind Nayomi and Mihyar. Jamjoom Fashion creates, develops, and scales market-resonant brands across the KSA and the Middle East through innovative concepts, tailored designs, strong marketing, and exceptional in-store and online shopping experiences.
The shares will be listed on the Parallel Market (Nomu) of the Saudi Exchange.
Subscription to the offered shares is restricted to Qualified Investors (as defined in the Prospectus).
The Offering consists of 2,384,340 ordinary shares, representing 30% of the Company’s issued share capital.
| Milestone | Date |
|---|---|
| Price Range | Monday 1 September 2025 |
| Offering Period Commences | 1 September 2025 |
| Offering Period Ends | End of Day 04 September 2025 |
| Final Offer Price | 09 September 2025 |
| Allocation of Shares | 09 September 2025 |
| Refund of Excess Monies (if any) | 11 September 2025 |
Trading of the Company’s shares on the Saudi Exchange is expected to commence after all relevant regulatory requirements are satisfied. Trading will be announced on the Saudi Exchange’s website (www.saudiexchange.sa).
With respect to the Offering, the Company appointed EFG Hermes KSA as financial advisor (“Financial Advisor”) and lead manager (“Lead Manager”).
Al Rajhi Capital, SNB Capital Company, Saudi Fransi Capital, Riyad Capital, Al Bilad Investment, Al Jazira Capital, Investment Securities and Brokerage Company, Derayah Financial, Alinma Capital, Arab National Bank Financial, Yaqeen Capital, Alkhabeer Capital, Al-Awwal Investment (SAB Invest), Saham Capital Financial Company, GIB Capital, EFG Hermes KSA, Musharaka Capital, and Awaed Alosool Capital act as Receiving Agents (collectively, the “Receiving Agents”) for Qualified Investors.
Please contact your relationship manager at one of the Receiving banks for further details.
Contact us
Jamjoom Fashion - KSA
Trio Boulevard 3rd Floor, As Shati Dist, Asmaa Bin Amis Street Jeddah, Kingdom of Saudi Arabia, Postcode 23513
+966 50 3367382