Shares of Versace Owner Capri Seen Falling 30% If Deal With Coach Owner Tapestry Fails
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
Mohamed Alabbar
Ahead of IPO, Farfetch Pushes Into Modest Dressing
The London-based marketplace is entering a global partnership with modest luxury retailer The Modist.
On Road to Autumn IPO, Farfetch Inks Middle East Deal
The fashion ‘unicorn’ has entered into a joint venture with Chalhoub Group ahead of a $5 billion IPO that is set for September 2018, according to sources close to the deal.
YNAP Business 'Strong, Robust and Solid' Says CEO
Chief executive Federico Marchetti said revenue at Yoox Net-a-Porter this year will grow in the lower part of the expected 17 to 20 percent range due to logistics delays at The Outnet.
Noon.com Triggers Saudi E-Commerce Race
Noon.com's launch in Saudi Arabia, where online sales are expected to reach $13.9 billion by 2021, has sparked a race for e-commerce dominance.
Dubai's Emaar Buys 51 Percent Stake in E-Commerce Site Namshi
Emaar Malls said it will buy a 51 percent stake in fashion website Namshi from Germany's Rocket Internet for $151 million as competition for technology deals heats up in the Middle East.
Report: Emaar Malls Challenges Amazon for Souq.com
The retail division of Emaar Properties PJSC, run by Mohamed Alabbar, is believed to have offered about $800 million for Souq.com last week.
Middle East E-Commerce Takes Flight
A slew of new e-commerce ventures are using the UAE as a springboard into the Middle East’s online retail market.
As Online Sales Soar, Brands Must Boost Digital Innovation
Booming e-commerce sales on Black Friday underscore the need for continued digital investment, but front-end upgrades are only the tip of the iceberg.
Yoox Net-a-Porter and Alabbar's New Middle-East Venture
The Yoox Net-a-Porter Group is launching a joint venture with Mohamed Alabbar's Symphony Investments to create a major new platform for online luxury retail for the Middle East.
The End of Holiday Shopping Season As We Know It?
Amidst disruption on New York’s Fifth Avenue, discounting season has come early this year, but more and more sales are no longer a salve for the deeper problems facing retail.
Technology
Bits & Bytes | Shoppers Prioritise Speedy Delivery, $1BN E-Commerce Venture Targets Middle East
This week, a report reveals the importance of speedy delivery services to holiday shoppers and a $1 billion e-commerce venture from Saudi Arabia PIF and Alabbar targets the Middle East's growing online retail market.
Bits & Bytes | Shoppers Prioritise Speedy Delivery, $1BN E-Commerce Venture Targets Middle East
This week, a report reveals the importance of speedy delivery services to holiday shoppers and a $1 billion e-commerce venture from Saudi Arabia PIF and Alabbar targets the Middle East's growing online retail market.
Saudi Arabia PIF and Alabbar to Launch $1 Billion E-Commerce Firm
Emaar Properties PJSC Chairman Mohamed Alabbar and Saudi Arabia’s Public Investment Fund will each contribute $500 million to an e-commerce venture to tap the Middle East’s fast-growing online retail market.
Company Snapshot
The business mogul who built the world’s tallest building and the Dubai Mall recently invested more than €100 million in Yoox Net-a-Porter.
The News in Brief
Celine Adds To Fragrance Line-Up
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Sales Rise More Than Expected, Led by Beauty
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
Biden Signs Possible TikTok Ban Into Law; ByteDance Vows Legal Challenge
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
Google Postpones Phasing Out of Ad Cookies in Chrome Browser
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.
Sales at Italy’s Moncler Up 16% in First Quarter Boosted by China
Overall revenues for the three months through March totalled 818 million euros ($874 million), above a company-provided analyst consensus of 786 million euros.
PZ Cussons to Sell St Tropez, May Exit Africa
Embattled by weak demand and currency issues in Nigeria, the company is looking to slim down in order to return to growth.
EU Parliament Approves New Business Supply Chain Audit Law
EU lawmakers backed the Corporate Sustainability Due Diligence Directive by 374 votes to 235 against, with 19 abstentions.