To boost its digital presence and international reach, Middle East’s retail giant Chalhoub Group has acquired a majority stake in personalized shopping platform Threads Styling. It did not disclose the size of its stake or the value of the investment.
The retail giant, which currently represents over 300 fashion brands in the region, including LVMH, Lacoste, and Christian Louboutin, has been keen on taking its business beyond the regional borders.
The London-based shopping platform would retain a minority stake and continue to carry on with its business, which recently extended into ecommerce and live shopping. Given Threads Styling’s impressive following on social media, this acquisition would further add to Chalhoub’s interest in investing in digital platforms and bolster its online presence. Threads Styling offers personal shopping service through social platforms and chat-based commerce across its channels on Instagram.
Similarly, Threads could benefit from Chalhoub’s expertise in retail and operations to offer customer-friendly services, venture into the Middle Eastern market, and access the local inventory.
Chalhoub is particularly focused on finding new ways to stay relevant for young luxury shoppers — something that Threads has done very well, says Sharmila Murat, chief investment officer at Chalhoub Group. It has also expanded its investments and operations in India, Africa, and Latin America.
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