Alabbar Enterprises invests €100mn into Yoox Net-A-Portar Group


April 21, 2016 | By RetailME Bureau

Global online luxury fashion retailer Yoox Net-A-Porter (YNAP) Group has announced a €100 million capital increase invested by the Dubai-based Alabbar Enterprises headed by Mohamed Alabbar.

Acquiring 4% stake, the Alabbar Enterprises will help the YNAP Group to expand in the Middle East’s luxury e-commerce market.

“I am pleased with the opportunity to invest in and support YNAP, the leader in online luxury retail. With an unrivalled product offering and superior customer experience, I look forward to collaborating with the management team and board, as the group further expands within the region,” says Alabbar, who is also chairman of Emaar Properties and Emaar Malls Group.

“I am delighted to welcome Alabbar Enterprises as a strategic investor in the group. His expertise and the experience of the team in the luxury retail sector will significantly strengthen and facilitate further development of the YNAP Group,” adds the group’s controlling shareholder Johann Rupert, chairman of Richemont.

“I sincerely admire Alabbar for his forward-thinking and relentless drive to innovate, a vision that has led to the creation of the world’s biggest mall. His track record in delivering exclusive luxury and retail experiences across the Middle East will provide us with invaluable insights in the fast-growing regional luxury fashion market,” believes YNAP Group CEO Federico Marchetti.

The Middle East already accounts for a 5% share of global luxury consumption and has been witnessing growing internet and e-commerce penetration led by increasing public investments in IT, e-services and telecoms infrastructure, alongside a young population. In recent years YNAP Group’s subsidiaries Net-A-Portar.com, MrPortar.com and TheOutnet.com have experienced remarkable growth in the region despite not offering localised customer propositions, which is further testament to the group’s significant potential in this flourishing market.

The YNAP Group will employ the financial resources raised through the capital increase over the 2016-18-period to:
Seize new growth opportunities through localisation in key high-potential geographies
Unlock synergies by funding the recently announced investments in the development of a common omnichannel enabled techno-logistics platform across all geographies and storefronts. This platform will support the Group’s future multi-billion Euro business, offering customers and brand partners world-class service and empowering customer-centric innovation.
Retain maximum balance sheet flexibility

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Rajiv Warrier, Chief Executive Officer, Choithrams

Since the launch of its first store in the UAE five decades 

Continue Reading

March 20, 2024 | By RetailME Bureau
Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC

Dr. Dhananjay Datar Chairman & Managing Director ADIL Trading Co. LLC holds 

Continue Reading

February 29, 2024 | By Rupkatha B
Hani Weiss, Chief Executive Officer, Majid Al Futtaim Retail

In 1995 regional retail conglomerate Majid Al Futtaim introduced Carrefour to the 

Continue Reading

February 26, 2024 | By RetailME Bureau
Prashant Parameswaran, Managing Director and Chief Executive Officer of Tata Consumer Soulfull

Tata Soulfull, a leading name in the ‘good-for-you’ snacks and breakfast cereals 

Continue Reading

February 22, 2024 | By Rupkatha B
Jean-Luc Graziato, Chief Commercial Officer of Majid Al Futtaim – Retail and Alia Al Harmoodi, Acting CEO of the Environment, Health and Safety Agency

Majid Al Futtaim – Retail, which holds the exclusive franchise to operate 

Continue Reading

February 20, 2024 | By RetailME Bureau
Krishna Dhanak, Managing Director, Alpen Capital

In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights 

Continue Reading

February 19, 2024 | By Rupkatha B
Majed M. Al-Tahan, Co-founder & Managing Director, Danube Online

As digital transformation across the retail industry continues to accelerate, the expectations 

Continue Reading

December 19, 2023 | By RetailME Bureau
Frederic Levy-Perrault, CEO, Al Raya Supermarket

Saudi Arabia-based grocery retail chain Al Raya Supermarket serves over 100,000 customers 

Continue Reading

December 15, 2023 | By RetailME Bureau
Ahmad AR. BinDawood, Chief Executive Officer, BinDawood Holding

BinDawood Holding has a rich Saudi heritage, spanning over 50 years, 38 

Continue Reading

December 13, 2023 | By RetailME Bureau
Majid Al Futtaim Retail commits to Collaborative Impact Goals at COP28

Majid Al Futtaim Retail, which owns the exclusive rights to operate Carrefour 

Continue Reading

December 8, 2023 | By Rupkatha B
BinDawood Holding Company earns Honorary Shield for Compliance Excellence

BinDawood Holding Company has earned an Honorary Shield, a distinguished recognition by 

Continue Reading

December 6, 2023 | By RetailME Bureau
First Movers Coalition for Food to create up to $20-bn value chain for sustainable farming

The World Economic Forum, with support from the Government of the United 

Continue Reading

December 5, 2023 | By RetailME Bureau




Download Images RetailME Magazine