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Retail

Retail and consumer news from the Middle East. All the important stories, plus authoritative opinion and analysis.

Apparel to buy Karl Lagerfeld brand in $210 mln all-cash deal

Apparel Group Ltd said on Monday it has agreed to acquire the remaining 81% stake in Karl Lagerfeld for $210 million in cash, becoming the sole owner of the Parisian fashion brand. G-III, which owns brands including DKNY and Jessica Howard, will purchase the additional stake from a group of investors led by Fred Gehring […]

Person, Human, Shoe

Turkish consumer confidence hits record low in April

The Turkish consumer confidence index dropped 7.3 percent to 67.3 points in April, official data showed on Thursday, hitting its lowest ever level, driven by a 10 percent drop from the previous month in the financial situation of households. A slide in the value of the lira began driving a fall in consumer confidence late […]

Tata Motors maps out long-range EVs for India and beyond

Tata Motors says it plans to launch electric cars with a minimum range of 500 kilometres (310 miles) and advanced technology features, targeting buyers in India and beyond. The first electric vehicles (EVs) built using its new platform should be on the road in 2025, Tata said during an event in Mumbai where it unveiled […]

Logo, Trademark, Symbol

Americana selects banks for Saudi and UAE listings

The Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut has hired banks for a potential dual listing in Saudi Arabia and theUnited Arab Emirates, a source with knowledge of the matter said. Americana Group has selected Goldman Sachs, First Abu Dhabi Bank (FAB) and Saudi National Bank (SNB) for the deal, said the source, declining […]

UAE agtech Right Farm raises $2.8m from investors

Right Farm, a United Arab Emirates agriculture technology firm, said on Monday it raised $2.8 million from investors including Abu Dhabi state holding company ADQ’s venture platform. The company is a business to business digital platform which sources fresh produce from local and international farms for the food and retail sector. Right Farm said in […]

Dubai’s GMG to operate French supermarket chain Géant in UAE

Dubai retailer GMG said on Tuesday it had acquired the United Arab Emirates’ operations of French supermarket chain Géant from a company owned by Dubai Holding, of Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum. GMG said it also acquired the rights to expand Géant’s operations in the Middle East as part of the deal from […]