Dubai firm acquired 51% of fashion website Namshi for $151 million
Dubai firm Emaar Malls has acquired 51% stake in fashion site Namshi from Frankfurt listed company Rocket Internet for $151 million.
Launched in 2012, Namshi is owned by Germany's Rocket Internet and a consortium of global investors. Serving 750,000 customers across the GCC countries, Namshi had $150 million of net revenue in 2016. The buyer, Emaar Malls is the owner of Dubai Mall, is listed on Dubai bourse and is majority-owned by property developer Emaar Properties.
To see listing and email addresses of investors from Dubai similar to Emaar Malls, check the Middle East Investors Directory.
More details follows:
May 24, 2017 |
Filed under Dubai Venture Capital Firms
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