I just found out about this and think its amazing news for Villa Moda and all the other local start ups. It just goes to show that great local ideas are great ideas anywhere in the world.
Majed al-Sabah, the Kuwaiti lifestyle retailer known in the fashion world as the “Sheik of Chic,” has teamed up with the government of Dubai to create a global brand development strategy for his Villa Moda enterprise.
The Dubai International Finance Center, or DIFC, was to announce Monday that it had taken a majority investment in the multibrand high fashion retailer, where Sabah will remain as chairman and creative director. The exact amount of the investment was not disclosed.
I think Dubai is a perfect partner for Villa Moda but its depressing because Villa Moda is a Kuwaiti based idea and operation and it would have meant more to have Kuwait finance Villa Moda. But I guess its not only about the money, Dubai have a vision, Kuwait’s vision is… Dubai? [Link]
Thanks Mish!