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Emaar Malls Buys Namshi

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Emaar Malls has fully acquired Namshi, the leading regional fashion e-commerce retailer. This follows acquiring the remaining stake of Global Fashion Group (GFG) in Namshi, in an all-cash transaction of AED 475.5 million (Euro 114.3 million; US$ 129.5 million).

GFG and Emaar Malls entered into a strategic partnership in 2017 when Emaar Malls acquired a 51% stake in Namshi. Over the past two years GFG has worked together with Emaar Malls and the Namshi team to strengthen the company’s offering by bringing global expertise in e-commerce and shared resources such as global brand acquisitions and technology innovations to the platform.

Emaar Malls’ full acquisition of Namshi is a natural evolution of the company’s digitally-driven strategy to leverage the growing e-commerce market in the Middle East and North Africa region. The full acquisition reinforces the position of Emaar Malls in the rapidly growing online market in the Middle East, complementing its physical retail assets portfolio. 

Namshi has a 1.2 million and growing active customer base, and recorded impressive growth in the past two years, having recorded sales across UAE and the KSA of AED 849 million (US$ 231.3 million) in 2018, an increase of 16 per cent compared to the previous year.

The deal will further cement Namshi as among the region’s fastest growing e-commerce fashion destinations with Emaar Malls to power its growth through the addition of more brands, enhancing its logistics infrastructure and strengthening its geographic outreach.

Mohamed Alabbar, Chairman of Emaar Properties, and Board Member of Emaar Malls, said: “The remarkable growth achieved by Namshi underlines the potential for fashion e-commerce in the region, where, every day, a larger number of people shop online to meet their fashion aspirations. With the consolidation of our stake in Namshi, we are highlighting our commitment to position Emaar Malls for growth over the next decade and to create outstanding value for all our shareholders through our omnichannel strategy.” 

Patrick Bousquet-Chavanne, Chief Executive Officer of Emaar Malls, added: “Namshi is a remarkable success story that reflects the changing shopping habits of young fashion-conscious customers in the region. The majority acquisition of the company in 2017 had heralded a new era for Emaar Malls in building its online presence. Today’s acquisition underlines the acceleration of our ‘Digital Forward’ strategy to leverage the growing e-commerce market in the Middle East and North Africa region. This will enable us to further accelerate the talents and operational synergies between the two businesses, as well as drive the growth of Namshi by drawing on the superb retail infrastructure of Emaar Malls. We thank the GFG team for their valuable support in driving the growth of Namshi in recent years.”

Founded in 2011, Namshi was the first to provide an online lifestyle destination for fashion and beauty to the MENA region, introducing a world of possibilities for millions of people, at the click of a button. Now, Namshi showcases a selection of 700 brands includes leading global names, exclusive in-house labels, the latest sports collaborations, the best from beauty, activewear, kidswear and more, all carefully curated to meet the aspirations of the customers.

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Meta Expands Integration of WhatsApp with Accounts Center

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Since its launch in 2020, Accounts Center has allowed users to manage their connected experiences across Facebook, Instagram, and Meta Quest with ease. In a significant expansion, Meta announced the rollout of a new option to add WhatsApp to the Accounts Center over the coming months.

The integration prioritizes user choice and privacy. WhatsApp accounts will remain separate from other apps, and only users can decide to link them. This integration is optional and off by default. However, those who opt in can enjoy added convenience. For instance, sharing updates from WhatsApp Status to Facebook or Instagram Stories will become seamless, eliminating the need for multiple posts. Additionally, a single sign-on feature will enable quick and easy access to WhatsApp accounts.

Meta plans to introduce more cross-app features over time. Future updates will allow users to manage their avatars, Meta AI stickers, and Imagine Me creations all in one place. The company commits to providing clear explanations for these updates within their apps to help users make informed decisions.

Privacy remains a priority, with personal messages and calls on WhatsApp continuing to be protected by end-to-end encryption. This ensures that no one, not even WhatsApp or Meta, can access this content. Integrating WhatsApp into Accounts Center does not change this standard.

The global rollout will take time. Users will see the new option in their WhatsApp settings or when prompted while performing cross-app actions, such as resharing their Status. Meta aims to enhance user experience by making digital interactions smoother and more intuitive.

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Lamborghini Rolls Out Smart TV App

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Lamborghini has launched Lamborghini TV, a smart TV app that offers fans and customers an immersive experience in the world of this iconic automaker.

The app delivers exclusive content, including in-depth model analysis, technical insights, motorsport highlights, event coverage, lifestyle features, interviews, and podcasts.

Available on Android TV (8.0 Oreo and above), Samsung Tizen (2018+ devices), and LG WebOS (2018+ devices), Lamborghini TV can be downloaded directly from smart TV app stores. With high-resolution visuals and curated programming, the app allows enthusiasts to explore behind-the-scenes stories.

From comprehensive looks into Lamborghini’s latest supercars to exclusive podcasts offering expert insights, Lamborghini TV is designed to provide a captivating experience tailored to every fan. The app is available for download now on compatible devices.

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Elon Musk Teases Launch of ‘Xmail’ to Rival Gmail

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Elon Musk has sparked speculation about the potential launch of ‘Xmail,’ an email service that could rival Google’s Gmail. The excitement began when the X account DodgeDesigner suggested that an X-based email service would be “cool.” Musk responded, stating, “Yeah. On the list of things to do,” confirming that the concept is being considered.

This announcement is in line with Musk’s usual method of revealing updates through casual interactions on X. Although no official timeline or details about ‘Xmail’ have been shared yet, the news has generated significant buzz on social media, especially among Musk’s followers.

As of September 2024, Apple Mail dominates the global email market with a 53.67% share, while Gmail holds 30.70%, according to recent data. Outlook, Yahoo! Mail, and Google Android combined account for less than 10% of the market. If Musk introduces ‘Xmail,’ it could potentially disrupt the current market dynamics, leveraging his influence as the world’s richest man and US President-elect’s ‘First Buddy.’

Supporters are already rallying behind the idea. One user expressed their enthusiasm, stating, “I’d drop Gmail so damn fast,” reflecting frustration with Google’s dominance.

The potential launch of ‘Xmail’ underscores Musk’s ambition to expand X’s ecosystem and challenge established tech giants. Whether ‘Xmail’ will succeed remains to be seen, but the anticipation and excitement are already high.

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