United Arab Emirates news and archive

Multiply approves integration of Two Point Zero and Ghitha, boosts valuation to 28 billion euros

Madrid – Following the news reported by FashionUnited last week, an extraordinary General Shareholders' Meeting for Multiply Group, the parent company of Tendam, was held this Monday at its Abu Dhabi headquarters. The meeting was convened to address the complex financial transaction for the integration, via acquisition, of two Emirati companies...

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Business|In Depth

Spanish entrepreneurship in Dubai: ICEX recommendations

Following FashionUnited’s interviews with the Spanish founders of Dubai-based fashion and lifestyle brands Montroi and Coma, we now flip the coin on Spanish entrepreneurship in the emirate to focus our attention on how to start a business in Dubai from outside its borders. For this journey, we have the invaluable guidance of ICEX, the public...

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Business|Interview

Spanish entrepreneurship in Dubai: Coma

Continuing our series of publications on Spanish entrepreneurship in Dubai, following the interview with Enrique Hormigo, founder of Montroi, we now turn our attention to Coma. This Dubai-based fashion brand, boasting entirely local production within the emirate, was co-founded by Spaniards Mercedes Valencia and Cristina Alcedo. From Dubai to...

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Business|Interview

Spanish entrepreneurship in Dubai: Montroi

Invited by the Dubai Fashion Week organisers, FashionUnited travelled to the most cosmopolitan emirate of the United Arab Emirates. We wanted to discover how fashion is experienced there and to understand the social, business, commercial and economic realities attracting a growing number of foreigners and international brands. These brands and...

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Business

Multiply Group completes acquisition of Tendam, will drive growth using AI as a lever

Multiply Group, an investment holding company based in Abu Dhabi, completed the acquisition of a 67.91 percent stake in Tendam, a Spanish fashion multinational, on 23 July 2025. Tendam owns brands such as Cortefiel, Springfield, and Women’secret. The transaction values Tendam at approximately 1.3 billion euros (5.6 billion UAE dirhams), with...

Fashion

UAE have highest apparel spending per capita: $785

Consumer spending in the UAE rose nine per cent last year and the emirate recorded highest clothing sales per capita in the world, according to last Kearney’s Retail Apparel Index.The report marks the highest clothing sales per capita in the world at $785 in 2010 and located it within the Gulf countries. AT Kearney analysts highlighted increased...