Emaar Malls news and archive

Rocket Internet sells 51 percent of Namshi to Emaar Malls

The online fashion sites group has sold a majority stake in its Middle East platform, Namshi, to Emaar Malls Group for 151 million dollars. The group unsuccessfully tried to buy Souq.com earlier this year. The German online retailers incubator will retain the reminding 49 percent holding in Namshi. The e-tailer made its first annual profit last...

Business

Emaar Malls to acquire 51 percent stake in Namshi

Global Fashion Group (GFG) has entered into a strategic partnership with Emaar Malls, the shopping malls and retail business majority-owned by property developer Emaar Properties. The company announced that under the partnership, Emaar Malls will acquire a 51 percent stake in Namshi, the online fashion retailer in the Middle East, for a...