Alabbar Enterprises, the United Arab Emirates based owner of Emaar Properties has baught a 100 million euro stake in Yoox Net-a-Porter. Responsible for running the world’s most visited luxury shopping mall, the Dubai Mall, Alabbar Enterprises’ partnership with Net-a-Porter signals the expansion of the online luxury giant into the Middle East.
“The world’s biggest online retailer is joining forces with the world’s biggest brick-and-mortar retailer,” said Federico Marchetti, chief executive, Yoox Net-a-Porter.
The partnership comes a year after Yoox merged with Net-a-Porter, and the resignation of founder Natalie Massenet.
