Emaar acquires remaining share of Namshi

NAMSHI/FACEBOOK

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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