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.
Experience the ChatGPT ‘Make It More’ Trend: Generate Weird AI Images
AI art generators occupy a peculiar space, capable of rendering diverse scenarios, from a cosmic skateboarding dog to a coffee cup adrift in the ocean. Setting aside ethical considerations, some creations may not initially meet expectations, necessitating user prompts to refine the AI-generated output.
Yet, what if the aim isn’t to craft a polished piece of AI art? Enter the “make it more” trend, where ChatGPT users task DALL-E to generate an image and subsequently request the bot to amplify certain aspects. For instance, Justine Moore prompted DALL-E to create a bowl of ramen, then instructed it to make it spicier. The iterative process led to increasingly absurd results, culminating in a bowl of noodles shooting fire beams into outer space.
A Dad getting increasingly Dad-ier pic.twitter.com/1EUFECmnT3
— Justine Moore (@venturetwins) November 27, 2023
While the Make It More trend gains traction on ChatGPT and DALL-E, allowing users to experiment with various image transformations, it also raises concerns about resource utilization. The AI processing involved consumes power and energy, prompting considerations about the trend’s efficiency and environmental impact. Nevertheless, these prompts contribute to OpenAI’s ongoing efforts to enhance AI capabilities across platforms like ChatGPT and DALL-E.
Samsung Internet is Now Available for Download on Windows PCs
Samsung’s default browser, Samsung Internet, has expanded its reach to desktop computers and laptops, now available for download on the Microsoft Store. One notable feature is the ability for users to sync their browsing data between their Galaxy devices and computers.
Upon launching the browser, users can import their browsing history, bookmarks, and search engines from other applications like Google Chrome or Microsoft Edge by signing into their Samsung Cloud account. The browser also supports add-ons and extensions from Chrome and Edge, accessible through the Chrome Web Store.
Samsung Internet for Windows offers familiar features such as incognito mode, light and dark modes, and ad-blocker support. The design elements show similarities to both Chrome and Edge, providing a sense of familiarity for users of those browsers. A useful security feature allows users to delete bookmarks, browsing history, passwords, and other data upon signing out, catering to those who share computers.
Despite its promising features, the browser’s PC debut is marred by a lack of complete sync support. Currently, only browsing history, bookmarks, and search engines can be imported, with no support for transferring saved passwords from Galaxy devices to computers. This omission may be addressed in future updates.
In May, Samsung Internet received an optimisation update for Galaxy tablet users. Toggleable features were introduced, allowing users to control the placement of the browser’s address, bookmark, and tab bars. The update also included a warning for users with a high number of open tabs, informing them that opening another tab would result in the deletion of the oldest tab.
Google Clarifies the Cause of Missing Google Drive Files
Many Google Drive users recently experienced the unsettling disappearance of their files, prompting concerns. Google has now identified the root cause, attributing the issue specifically to the Google Drive for Desktop app. While assuring that only a limited subset of users is affected, the tech giant is actively investigating the matter and promises timely updates.
To prevent inadvertent file deletion, Google provides the following recommendations:
- Avoid clicking “Disconnect account” within Drive for desktop.
- Refrain from deleting or moving the app data folder, located at:
- Windows: %USERPROFILE%\AppData\Local\Google\DriveFS
- macOS: ~/Library/Application Support/Google/DriveFS
- Optionally, create a copy of the app data folder if there is sufficient space on your hard drive.
Before Google officially addressed the issue, distressed users took to the company’s support forum to report deleted files. One user from South Korea highlighted a particularly severe case where their account reverted to May 2023, resulting in the loss of anything uploaded or created after that date. Additionally, the user emphasised that they had not synced or shared their files or drive with anyone else.
As Google delves deeper into resolving this matter, affected users are advised to heed the provided precautions. The company’s commitment to ongoing updates reflects its dedication to swiftly addressing and rectifying the situation. The incident serves as a reminder of the importance of proactive measures to safeguard digital data, especially as users navigate cloud-based platforms such as Google Drive.
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