Wednesday, 26 September 2012

JPM, London fund invest $20 mln in Dubai e-commerce firm | Reuters

J.P. Morgan Chase and Blakeney Management have invested over $20 million in a Dubai-based e-commerce firm which sells designer clothing, a sign that global investors are interested in the Middle East's nascent online shopping sector.

Namshi, a start-up launched late in 2011, aims to benefit from growth in the number of Internet users around the region.

"We realised very early that there is a gap in the market for fashion e-commerce in the region," said co-founder and managing director Muhammed Mekki, a former executive at consultancy McKinsey & Co, who founded Namshi with three other partners.

No comments:

Post a Comment