Alabbar Enterprises invest in YNAP

Endaba Group

Yoox Net-a-Porter Group is set to accelerate its growth in the Middle East thanks to a $113 million investment from Alabbar Enterprises, controlled by Mohamad Alabbar. Alabbar is said to be a driving force behind Dubai’s economic growth, and he is the owner and operator of retailers and shopping malls in Dubai, including The Dubai Mall. Yoox have claimed that Alabbar will help the company not only in terms of economic investment, but he will also provide valuable insights to help the brand’s expansion in the Middle East. Federico Marchetti, Chief Executive Officer of YNAP, said he admires Alabbar “for his forward-thinking and relentless drive to innovate, a vision that has led to the creation of the world’s biggest mall”. The investment will undoubtedly strengthen the brand’s position in the Middle East and drive their plans for expansion forward.