Yoox Net-A-Porter Group, the world's leading online luxury fashion retailer, announced the execution of a dedicated capital increase of €100 million to be entirely subscribed for by Alabbar Enterprises, controlled by Mohamed Alabbar. An entrepreneur widely acknowledged as a key contributor in driving Dubai's economic growth, Mohamed Alabbar is the founder and owner of Alabbar Enterprises LLC based in Dubai, a company that operates and invests in businesses in the Middle East, South East Asia and Africa across a variety of sectors, including, among others, luxury, fashion, retail and e- commerce. He is the founder and major shareholder of RSH, the leading Singapore-based pan-Asian marketer, distributor and retailer of over 70 international fashion and lifestyle brands through more than 700 outlets in over 10 countries. Alabbar is also the founder and chairman of Emaar Properties, parent company of Emaar Malls Group, the leading owner and operator of shopping malls and retail business in Dubai. As a strategic shareholder, Alabbar will be in a position to provide invaluable insights and support to Yoox Net-A-Porter Group, which will be key to developing the Group's rising business in the promising yet complex Middle Eastern luxury e-commerce market. "I am pleased with the opportunity to invest in and support Yoox Net-A-Porter, the leader in online luxury retail. With an unrivalled product offering and superior customer experience, I look forward to collaborating with the Management team and Board, as the Group further expands within the region," said Mohamed Alabbar, Chairman of Emaar Properties and Emaar Malls Group.
