Namshi plans regional expansion
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Namshi plans regional expansion

Namshi plans regional expansion

Dubai-based online fashion retailer Namshi, which recently completed two rounds of private equity funding, is set to expand into Lebanon and Jordan, as the firm eyes more than Dhs100m ($27m) sales this year, Zawya Dow Jones has reported. The e-commerce website received $20m in capital from JP Morgan Asset Management and Blakeney Management in September, and this week announced additional funding of an undisclosed sum from Summit Partners, Hosam Arab, founder and one of three managing directors at Namshi, told the news service. The extra cash will be used to expand into new markets and invest in delivery logistics and a new warehouse in Dubai, he added. "A lot of the funding will go towards growing the business, part of it will be customer acquisition and thirdly we are looking at new markets," said Arab.

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