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Alhokair, Arabian Centres Company acquire stake in Vogacloset rohma@khaleejtimes.com Filed on March 3, 2021 The transaction is subject to the fulfilment of various conditions precedent, expected to be completed by the end of June 2021 Fawaz Abdulaziz Alhokair Co (Alhokair) and Arabian Centres Company (ACC) have announced that they will acquire a combined 51 per cent stake in Vogacloset, a UK-based online fast fashion platform offering over 400 brands in the latest women’s, men’s and kids’ trends to fashion enthusiasts in the Middle East. The buyers will acquire 41.2 per cent of Vogacloset’s existing shares based on a pre-money valuation of $60 million, subject to an earn-out structure conditional on certain growth thresholds. In addition, $12 million will be injected into the capital of Vogacloset to further develop its presence in the Saudi market, accelerate the growth of its active customer base and support the integration of Alhokair brands and ACC tena

Saudi arabiaAsh shariqahUnited arab emiratesKhaleej timesMarwan moukarzelFaisal al jedaieHanin hamarnehFawaz abdulaziz alhokair coArabian centres companyAmerican university of sharjahUnited kingdom basedJoint ventureMiddle eastMass communicationInternational studiesAmerican university