A Middle East retail giant has taken a majority stake in London RetailTech firm Threads Styling.
Chalhoub Group, a luxury goods retailer and distributor headquartered in Dubai, is the largest retail operator in the region.
It has acquired all shares in the London firm – a digital luxury retailer and personal shopping platform – except for those of founder and CEO Sophie Hill.
Threads delivers a personal shopping service through social platforms and chat-based commerce, creating style content to inspire Millennial and Gen Z clients across its channels including Instagram, Snap and TikTok.
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“We are excited to partner with Chalhoub Group to further strengthen our proposition within the GCC (Gulf Cooperation Council),” said Hill.
“We have such a loyal customer base in the region and with Chalhoub Group’s presence in the market we have a unique opportunity to enhance our capabilities and continue Threads Styling’s journey alongside a strategic partner.”
Threads Styling will continue to operate as an independent entity under Hill’s leadership.
Sharmila Murat, chief investment officer at Chalhoub Group, said: “This partnership is a key milestone in our strategy to expand our digital presence and global reach, while staying focused on delivering exceptional experiences for our luxury consumers, and inspiring and influencing a global audience through innovative and engaging digital content.”