Company Insights Shein Retail Shein Overview Global fast fashion online retailer Shein was founded in Nanjing, China, in October 2008 as ZZKKO by entrepreneur Xu Yangtian, also known as Chris Xu. Shein has grown rapidly in recent years by offering low prices on clothing to consumers worldwide and has been the world’s largest fashion retailer since 2022. The company moved its headquarters to Singapore in the same year but continues to use Chinese manufacturing facilities. In 2023 Shein raised $2 billion from investors, including the UAE’s Mubadala Investment Company. Shein News Logistics Saudi special logistics zone signs deals to stimulate growth Saudi Arabia’s Special Integrated Logistics Zone Company (SILZ) has signed three memoranda of understanding (MoUs) to develop ‘Riyadh Integrated’, the country’s first special logistics zone. The company hopes the MoUs, signed during the inaugural Global Logistics Forum in Riyadh, will stimulate industrial growth, economic diversification and job creation. The first agreement was signed with […] October 15, 2024 Banking & Finance Mubadala-backed Shein courts investors before London IPO Chinese fashion retailer Shein, which is backed by the Abu Dhabi sovereign wealth fund Mubadala, is courting European investors before an initial public offering on the London Stock Exchange. Shein is due to hold informal meetings to answer questions and test the investment appetite of major investors in the coming weeks, before its planned IPO […] October 4, 2024 Retail Saudi retail in tech race to lock in consumer loyalty Saudi and Gulf retailers are running to catch up when it comes to deploying sophisticated tools being used in other markets to develop consumer loyalty, creating an opening for innovative companies, according to analysts. “The Middle East is a bit behind the curve,” said Premal Patel, managing director of Catalina UK, a retail consultancy. “Technology […] September 17, 2024 Analysis Retail Primark launch would diversify Dubai’s retail offering The launch of value fashion retailer Primark in Dubai would add a much-needed affordable element to the emirate’s retail offerings, industry experts say. Kuwait-based Alshaya Group announced this week that it had partnered with the international fashion retailer and is looking to “explore opportunities to bring its stores to the Middle East”. Alshaya’s portfolio of […] September 6, 2024 Finance Mubadala-backed Shein to invest $271m in Europe Chinese fashion retailer Shein, backed by the UAE’s Mubadala sovereign wealth fund, will invest €250 million ($271 million) over the next five years in the UK and Europe to expand its online business. The company has allocated €50 million for potential investments in research and development or pilot production facilities in Europe or the UK. […] July 10, 2024 Banking & Finance Mubadala’s Beijing office to deepen UAE-China ties Mubadala Investment Company, the second-biggest state fund in Abu Dhabi, has officially opened an office in Beijing. The move marks a significant development in the growing economic relations between the UAE and the world’s second largest economy. The sovereign fund entered China a few years ago but had to delay its office opening ceremony due […] September 8, 2023 Banking & Finance Fintech Tabby doubles debt facility Buy now, pay later company Tabby has doubled its existing debt facility as it looks to maintain triple-digit growth recorded in recent years. The fintech is backed by Abu Dhabi sovereign fund Mubadala and secured $350 million in funding through key global credit investors. Buy now, pay later (BNPL) allows consumers to order and take […] June 2, 2023 Tamara secures $150m from Goldman Sachs to propel growth Saudi-based buy-now, pay-later startup Tamara has signed a $150 million funding facility with investment bank Goldman Sachs to fund its growth plan. The loan, known as a ‘receivables warehouse facility’, will take the startup’s total funding in equity and debt to $366 million since its launch in September 2020. The funding will accelerate demand for […] March 17, 2023 Analysis Economy Chinese investors target Middle East for growth More than three-quarters of Chinese businesses are looking to expand their presence in Middle East markets or enter them. The UAE and Saudi Arabia were named as the top two destinations for Chinese investment over the next three to five years. According to a new survey – part of the Report on Chinese Investors’ Confidence […] January 4, 2023 Analysis Banking & Finance Gulf’s $2bn buy-now-pay-later sector shrugs off global slump Despite the global pessimism surrounding buy-now-pay-later (BNPL) finance providers, the Gulf region continues to push forward with related acquisitions and expansion plans. The recent string of big ticket global BNPL casualties highlights several companies with direct links to the UAE. Abu Dhabi-backed Swedish operator Klarna last month managed to raise $800 million in new funding, […] August 4, 2022 Posts navigation
Logistics Saudi special logistics zone signs deals to stimulate growth Saudi Arabia’s Special Integrated Logistics Zone Company (SILZ) has signed three memoranda of understanding (MoUs) to develop ‘Riyadh Integrated’, the country’s first special logistics zone. The company hopes the MoUs, signed during the inaugural Global Logistics Forum in Riyadh, will stimulate industrial growth, economic diversification and job creation. The first agreement was signed with […] October 15, 2024
Banking & Finance Mubadala-backed Shein courts investors before London IPO Chinese fashion retailer Shein, which is backed by the Abu Dhabi sovereign wealth fund Mubadala, is courting European investors before an initial public offering on the London Stock Exchange. Shein is due to hold informal meetings to answer questions and test the investment appetite of major investors in the coming weeks, before its planned IPO […] October 4, 2024
Retail Saudi retail in tech race to lock in consumer loyalty Saudi and Gulf retailers are running to catch up when it comes to deploying sophisticated tools being used in other markets to develop consumer loyalty, creating an opening for innovative companies, according to analysts. “The Middle East is a bit behind the curve,” said Premal Patel, managing director of Catalina UK, a retail consultancy. “Technology […] September 17, 2024
Analysis Retail Primark launch would diversify Dubai’s retail offering The launch of value fashion retailer Primark in Dubai would add a much-needed affordable element to the emirate’s retail offerings, industry experts say. Kuwait-based Alshaya Group announced this week that it had partnered with the international fashion retailer and is looking to “explore opportunities to bring its stores to the Middle East”. Alshaya’s portfolio of […] September 6, 2024
Finance Mubadala-backed Shein to invest $271m in Europe Chinese fashion retailer Shein, backed by the UAE’s Mubadala sovereign wealth fund, will invest €250 million ($271 million) over the next five years in the UK and Europe to expand its online business. The company has allocated €50 million for potential investments in research and development or pilot production facilities in Europe or the UK. […] July 10, 2024
Banking & Finance Mubadala’s Beijing office to deepen UAE-China ties Mubadala Investment Company, the second-biggest state fund in Abu Dhabi, has officially opened an office in Beijing. The move marks a significant development in the growing economic relations between the UAE and the world’s second largest economy. The sovereign fund entered China a few years ago but had to delay its office opening ceremony due […] September 8, 2023
Banking & Finance Fintech Tabby doubles debt facility Buy now, pay later company Tabby has doubled its existing debt facility as it looks to maintain triple-digit growth recorded in recent years. The fintech is backed by Abu Dhabi sovereign fund Mubadala and secured $350 million in funding through key global credit investors. Buy now, pay later (BNPL) allows consumers to order and take […] June 2, 2023
Tamara secures $150m from Goldman Sachs to propel growth Saudi-based buy-now, pay-later startup Tamara has signed a $150 million funding facility with investment bank Goldman Sachs to fund its growth plan. The loan, known as a ‘receivables warehouse facility’, will take the startup’s total funding in equity and debt to $366 million since its launch in September 2020. The funding will accelerate demand for […] March 17, 2023
Analysis Economy Chinese investors target Middle East for growth More than three-quarters of Chinese businesses are looking to expand their presence in Middle East markets or enter them. The UAE and Saudi Arabia were named as the top two destinations for Chinese investment over the next three to five years. According to a new survey – part of the Report on Chinese Investors’ Confidence […] January 4, 2023
Analysis Banking & Finance Gulf’s $2bn buy-now-pay-later sector shrugs off global slump Despite the global pessimism surrounding buy-now-pay-later (BNPL) finance providers, the Gulf region continues to push forward with related acquisitions and expansion plans. The recent string of big ticket global BNPL casualties highlights several companies with direct links to the UAE. Abu Dhabi-backed Swedish operator Klarna last month managed to raise $800 million in new funding, […] August 4, 2022
