Emaar Malls to acquire 51 percent stake in Namshi

Global Fashion Group (GFG) has entered into a strategic partnership with Emaar Malls, the shopping malls and retail business majority-owned by property developer Emaar Properties. The company announced that under the partnership, Emaar Malls will acquire a 51 percent stake in Namshi, the online fashion retailer in the Middle East, for a consideration of 151 million dollars including investment in the company for its future growth, with GFG retaining the remaining 49 percent.