Mayhoola for Investments OPC of Qatar focus on local and global investments is to acquire Turkish retailer Boyner Perakende’s 30.7 percent for 885 million lira. This would mark an entry to Turkey for the Qatari-royal-family investor, which has been expanding its global presence.
Boyner Group Chairman and CEO Cem Boyner welcomed the move, through partnership with Mayhoola they plan to strengthen their capital to be able to finance their future investment goals.
The Boyner Group hosts scores of cornerstone retail brands, such as the high end clothing brands Beymen and Network as well as Altınyıldız, along with department store Boyner, which is registered under the Boyner Büyük Mağazacılık, a subsidiary of Boyner Retail.
In 2012, Mayhoola acquired Italian Fashion house Valentino Fashion Group for around EUR 700 million. The current agreement with Boyner Group is awaiting approval by the Competition Board (Rekabet Kurumu).
In a statement on the deal Mayhoola underlined that its strategy for the deal was to have Boyner brands grow in Turkey and expand to international markets.
Sustainable fashion brand Virgio has partnered with Ola Electric to offer eco-friendly doorstep deliveries of its products during the festive…
Kingpins Hong Kong hosted its second annual pop-up event at the DX Design Hub, putting the spotlight on denim innovation…
The American Association of Textile Chemists & Colorists (AATCC) has signed a Memorandum of Understanding (MOU) with The Textile Association…
Under Armour, Hohenstein and PPT Group, has introduced a standardised method to measure microfibre release from textiles during simulated washing…
The RISE for Impact project is collaborating with farmers in the cotton supply chain to promote decent work by integrating…
Cosmo First has unveiled its new range of Paint Protection Films designed to protect vehicle exteriors with advanced features ensuring…