Companies / The growing opportunities for foreign brands in Russian ecommerce

#76
Rank in U.S.
Performance Score:
65 out of 100

In November 2016, Dubai-based business-tycoon Mohamed Alabbar formed a 130 million euro ($138 million) joint venture with Milan-based online retailer Yoox Net-a-Porter Group to profit from luxury spending in the Middle East. The venture will be owned by Alabbar’s Symphony Investments, which will hold 40%, and Yoox Net-a-Porter, Alabbar said. The Italian retailer may start selling products into the Middle East in the next 12 months, he said. “E-commerce in the Middle East is still fresh and new, it’s 1.5% of total retail, it’s a baby,” Alabbar said. “We built Emaar into a sizable real estate company from nothing, and we need to build the next Emaar in e-commerce.”

Headquarters

Via Morimondo 17, Milano 20143

Parent Company

Yoox Net-a-Porter-Group

Merchant Type

Web Only

Merchandise Category

Apparel/Accessories

Website

Net-a-Porter.com
Year Launched: 2000

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