The companies have partnered to introduce greater payment flexibility for customers
Namshi
Latest in Namshi
Namshi
Noon completes Namshi takeover
Noon.com has officially taken over online fashion store Namshi
Amazon
UAE ‘Singles Day’ triggers sales surge for clothing, cosmetics: Report
The early discounted sales season – ahead of Black Friday – posted close to 33 percent jump in online purchases this year
acquisitions
Emaar shareholders give go ahead for Dubai Creek Harbour acquisition, Namshi sale
Last month, Emaar has announced reaching an understanding with Dubai Holdings to fully acquire Dubai Creek Harbour for $2.04 billion, to be paid equally in cash and shares of Emaar
Acquisitions and Divestitures
Proceeds from Emaar’s $335 million Namshi sale to be invested in core real estate business
The deal is set to be signed on August 24, “subject to the completion of the agreement term and the required regulatory procedures”
business outlook
Emaar Properties, Emaar Malls see credit ratings rise on strong 2021 performance, stable 2022 outlook
Emaar Properties’ profitability may rise slightly in 2022-2023 after a strong 2021, despite higher raw material prices and general cost inflation, according to an S&P Global Ratings report
E-commerce
Emaar selects Emirates NBD to advise on Namshi sale, reports
Dubai-based giant looking for outright sale of e-commerce fashion and lifestyle platform or listing through a SPAC, according to reports
Aramex
India-based data tech venture Increff signs deals with UAE fashion and logistic powerhouses Namshi and Aramex
Increff also plans to soon set up an office in Dubai and scout for strategic partners as part of its ambitious expansion plans in the MENA region
Arabian Business StartUp Academy
Last chance to register for Startup Academy: Focus will be on Expo 2020 and SME Exit Strategies
Management buyouts and knowing the right time to sell your start-up will be among the discussion points at the March event
Dubai
Emaar Malls names new chairman for online fashion firm Namshi
Chief strategy officer Hadi Badri is appointed following Emaar Malls’ acquisition of Namshi
Dubai
Namshi CEO to step down following complete sale to Emaar Malls
Hosam Arab said one of five original founders of the online fashion portal Namshi which was established in 2011.
Dubai
Dubai retail market remains strong, says Emaar Malls CEO
Emaar Malls CEO Patrick Bousquet-Chavanne said continued Dubai government investment in tourism and retail, aligned with a growth in population and the lead-up to Expo 2020 are encouraging
Dubai
Namshi acquisition boosts Emaar Malls as fashion retailer in Dubai, says CEO
Namshi will give Emaar Malls ability to attract new brands and also trial new ones
Dubai
Emaar unit inks $129m deal to take over e-commerce retailer Namshi
Emaar Malls announces agreement for full acquisition of regional fashion e-commerce retailer
Amazon
A quantum leap: Middle East e-commerce sector is heading for a pivotal moment
The Middle East e-commerce sector is heading for a pivotal moment as activity finally starts to accelerate, says Sameer Bagul, EVP and Managing Director (Middle East), Cleartrip
Azadea Group
UK online fashion brand Missguided to open 15 stores in MENA
Brand collaborates with retail giant Azadea Group following strong regional demand
Amazon Global Store
Opinion: regional e-comms just got more competitive
Souq launched the Amazon Global Store a day before Noon went live in Saudi, as both retail players compete in the fast-growing industry