WWD.com/business-news/department-stores/dubai-government-buys-major-stake-in-villa-moda-1789983/

Villa Moda, the Kuwaiti retailer that helped put the Middle East on the international fashion radar, is gearing up to go global with a powerful partner, WWD has learned. The Dubai International Financial Center, which is owned by the Dubai government, has taken a majority stake in Villa Moda, which operates seven multi-brand emporiums in the Gulf region and some 50 designer shops for brand from Gucci and Prada to Dolce & Gabbana, as franchises or joint ventures. Villa Moda is quoted on the Kuwait Exchange.

 

For complete coverage, see Monday’s WWD.