Alhokair and Arabian Centres boost online footprint with Vogacloset deal

Published 03 Mar,2021 via Arab News - Economy DUBAI - Saudi retail giants Alhokair and Arabian Centres Company (ACC) agreed to acquire a combined majority stake in Vogacloset, a UK-based online fashion platform.

It sells some 400 brands across women’s, men’s and kids’ fashion.

Post-transaction, Alhokair and ACC will own a combined 51 percent stake in Vogacloset, they said in a statement.

“This strategic investment in a sizeable and profitable regional e-commerce player is the most direct route for Alhokair to extend its leadership position in its core Saudi market – from offline to the online space, while safeguarding our competitive market position,” said Marwan Moukarzel, CEO of Alhokair.

The pandemic has encouraged Saudi retail groups to rapidly ramp up their e-commerce investments in response to the boom in online shopping.

Alhokair trades in around 1,800 stores across 100 shopping malls in 13 countries. Meanwhile Arabian Centres operates 21 malls across the Kingdom

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