Online fashion site Namshi sees 50% surge in Saudi revenues
Published 19 Feb,2021 via Arab News - Economy JEDDAH - Namshi, the online e-commerce site owned by Dubai’s Emaar Malls, has recorded a 50 percent growth in revenues from Saudi Arabia in the last year and is set to expand into a new warehouse facility in Riyadh.
While parent company Emaar Malls recently reported a 24.8 percent fall in revenues for 2020 to AED3.51 billion ($960 million), Namshi saw sales increase 28 percent to AED1.316 billion over the same period, with the Kingdom its biggest market.
“Saudi Arabia typically contributes to over 70 percent of the total Namshi revenue,” a spokesperson said, adding that Saudi sales rose 50 percent last year.
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