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Dubai Government Buys Major Stake in Villa Moda

Deal sets the stage for international and regional expansion.

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.