Emaar Malls to Acquire 51% of Middle Eastern Online Fashion Retailer Namshi

24 MAY 2017, BERLIN
Summary
Global Fashion Group forms strategic partnership with Emaar Malls // Emaar Malls will acquire a 51% stake in Namshi in an all-cash transaction of USD 151 million

Global Fashion Group ("GFG") has announced today a strategic partnership with Emaar Malls (DFM: EMAARMALLS), the shopping malls and retail business majority-owned by property developer Emaar Properties.

Under the partnership, Emaar Malls will acquire a 51% stake in Namshi, the leading online fashion retailer in the Middle East, for a consideration of USD 151 million including investment in the company for its future growth, with GFG retaining the remaining 49%. This partnership will accelerate Namshi’s development in the region and allow it to continue to flourish as the region’s pre-eminent fashion e-commerce destination.

For further details please reference the press release issued by GFG and Emaar Malls.

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About Rocket Internet

About Rocket Internet

Rocket Internet incubates and invests in Internet companies with proven business models. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 28,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.

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