Fashion e-commerce has been given a boost in the UAE, after Dubai's Emaar Malls bought the remaining 49 per cent share of Namshi for more than AED 475 million.
The online portal currently has 1.2 million active users making it the largest fashion online retail space regionally.
Patrick Bousquet-Chavanne, CEO of Emaar Malls, says it made sense to add the internet retailer to the portfolio.
The Dubai firm had bought a 51 per cent stake in Namshi for $151 million in May 2017.
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AED 11.6 million in licence penalties waived for Abu Dhabi businesses
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UK's Jaguar Land Rover to cut 4,000 jobs over next two years
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Salik renews tolling technology deal for five years
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Volkswagen flags 50,000 job cuts across group
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
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