E-commerce gains traction in the U.A.E

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16 June 2017 à 11h08

Updated on 10 May 2019 à 17h44

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1 minute

Publication: 16 June 2017 à 11h08, Updated on 10 May 2019 à 17h44

Reading time: 1 minute

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Publication

16 June 2017 à 11h08

Updated on 10 May 2019 à 17h44

Reading time

1 minute

Publication: 16 June 2017 à 11h08, Updated on 10 May 2019 à 17h44

Reading time: 1 minute

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In late May 2017, the Dubai-based developer Emaar Malls bought 51% of the online fashion retailerNamshi from the German Rocket Internet’s Global Fashion, spending US$150 million. This values the business at 1.95 times net revenue for 2016. Namshi sells more than 50,000 fashion items in the Gulf and posted first annual profit in 2016. Despite offering US$800 million earlier this year for the online retailer Souq.com, Emaar Malls was pipped at the post by Amazon. Eager to boost its online...

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