J.P. Morgan, London Fund Invest US$20 Million in Dubai E-Commerce Firm (MENA)

Source: Reuters  |  Author: Dinesh Nair

Middle East and Africa-focused investment firm Blakeney Management and J. P. Morgan Asset Management, the asset management arm of JPMorgan Chase, have invested over US$20 million into the United Arab Emirates-based online shopping service Namshi. Namshi sells designer clothing, shoes and accessories from over 400 international brands to customers in the Gulf region. Namshi will use the investment to expand its service in the region, particularly in Saudi Arabia.