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.
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