Kuwait’s Global Investment House, or GIH, announced Sunday it is acquiring a stake in Yargıcı, a leading up-market women’s apparel and accessories retailer in Turkey. The undisclosed investment showed that interest toward the Turkish economy from the Persian Gulf is ongoing, despite the political turmoil in the region.
The acquisition was realized through Global Capital Management, the alternative asset-management arm of GIH. The companies revealed neither the acquisition value nor the share acquired in Yargıcı.
In its statement, GIH said Yargıcı opened its first international store in Paris last year. “The investment will support Yargıcı’s growth plans, focused on further penetration in Turkey and entry into major European and Middle Eastern markets,” the company said.
No comments:
Post a Comment