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 /



Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in 

Continue Reading

October 7, 2024 | By Anurima Das
Naresh Kumar Bhawnani, Founder & Chairman, West Zone Group

“Retail is a people’s business. When building a retail brand or the 

Continue Reading

October 3, 2024 | By RetailME Bureau
Sunil Kumar, CEO, Spinneys

From being one of the first retailers in Dubai to ban single-use 

Continue Reading

October 1, 2024 | By RetailME Bureau
Walid Shabana, Co-founder & CTO, Rabbit

For starters, Rabbit is a growing e-commerce grocery platform in Egypt always 

Continue Reading

September 30, 2024 | By RetailME Bureau
Arunachalam Palaniappan, CTO, Choithrams

In 2024 grocery retail major Choithrams has achieved several milestones underscoring its 

Continue Reading

September 12, 2024 | By RetailME Bureau
#Topshelftalks session at Food Business Forum 2024

Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital 

Continue Reading

July 3, 2024 | By Anurima Das
#EdgeOfTomorrow session at Food Business Forum 2024

The regional grocery retail market is evolving fast keeping pace with constantly 

Continue Reading

July 3, 2024 | By Rupkatha B
#CartToCouch session at Food Business Forum 2024

If anything, the Middle East market is excited about quick commerce – 

Continue Reading

July 2, 2024 | By Rupkatha B
#EcoEchoes session at Food Business Forum 2024

From ethical and local sourcing to adopting cutting-edge technologies to curb food 

Continue Reading

July 2, 2024 | By Rupkatha B
#ByteSizedBreakthroughs session at Food Business Forum 2024

The regional grocery retail market is becoming more and more diverse, offering 

Continue Reading

July 2, 2024 | By Rupkatha B

Spinneys, the leading premium fresh food retailer, has announced the opening of 

Continue Reading

June 24, 2024 | By RetailME Bureau

Spinneys has announced the launch of The Kitchen by Spinneys, its first-ever 

Continue Reading

May 20, 2024 | By RetailME Bureau




Download Images RetailME Magazine