When one discusses Dubai, it is impossible not to think of luxury; the two have almost become synonymous. The city’s leading figures have invested billions so as to increase the Middle-East’s market in this period of rapid globalisation. Take the Chalhoub Group, for example, a titan in luxury partnerships who specialises in retail, distribution and marketing within the region. Most recently, the Chalhoub Group announced a joint venture with Farfetch, which has already raised $700 million in funding, to expand its e-commerce potential in the Arab luxury market and to employ fifty people by the end of the year. Plans include to install an Arab-language website and new delivery services as well a headquarters located in Dubai. By tapping into the growing spending power of the digitally savvy consumer, the deal strives to ‘grow the Middle-East very, very fast’, according to Farfetch founder José Neves.
Founded in 2008 by Portuguese entrepeneur José Neves, Ferfetch is an online luxury retailer, proving to be a powerhouse in e-commerce. In 2014, Farfetch won the Best British Luxury Brand Online award, for which Elite Associates was proud to sponsor.