We have got an amazing news for all wanna be fashion and style entrepreneurs. If you are willing to open a fashion and style business and are short of captial then you don’t need to worry because Dubai-based Emaar Properties is planning to launch a $100m fund to encourage Arab entrepreneurs in the fashion and retail sectors. Isn’t that exciting?
Mohamed Alabbar, Emaar’s chairman, said the fund would help Middle Eastern designers. The announcement came as the Dubai developer launched the inaugural Vogue Fashion Dubai Experience in partnership with the global fashion magazine
He further said that they need to fund the talent, every young man and woman here is so keen on fashion and style.
Editor-in-chief of Vogue Italia, the paper said that the fashion element of the fund – which will also have a broader remit to develop small Arab businesses in other sectors – will be run in conjunction with Franca Sozzani.
Emaar, the Middle East’s biggest developer, built the Dubai Mall whose fashion avenue is expanded to include 100 extra stores by 2015.
Alabbar told the FT that demand for extra retail space has been driven by luxury retailers, with sales up 15 percent in August and expectations of $4bn of sales revenue by the end of 2013.
From Arabian Business
Leave a Reply