Chalhoub Group, one of the largest luxury retailers from the Middle East, has bought a majority stake in UK’s digital luxury retailer Threads Styling.
The Group, known for partnering with luxury brands keen to trade in the Middle East, has bought all shares of Threads Styling for an undisclosed amount.
These also include shares owned by Sophie Hill, who is the founder and CEO at Threads Styling.
Notably, Threads Styling will continue to function as an independent entity under the leadership of Sophie.
The acquisition is seen as a part of Chalhoub Group’s efforts to invest in digital platforms to expand current online ecosystem – besides harnessing new opportunities for customer engagement and personalisation.
The Group is expected to strengthen Threads Styling with its Middle East market expertise – a major customer base for the UK firm.
The Chalhoub Group is the largest retail operator in the Middle East and has over 12,000 employees in 14 countries.
