Dubai: A consortium of regional investors participated in the latest funding round of UK-based Amara Living, an e-tailer of homeware merchandise. The deal follows an April round and “reflects the rapid growth of the company during the second quarter.
The company is expanding its distribution footprint to the Middle East.
Andrew Nichol, Partner at Lumina Capital Advisers, said: “Amara continues to expand its footprint across Middle East markets and its strategy of bringing in a regional partner is paying off with a rapid increase in sales across a range of products.
“The family-centric market and strong gifting culture across the Middle East represents a significant customer base for homewares, while consumer demand for online access to Amara’s wide and expertly curated products paves the way for significant expansion across the region, particularly as people spend more times in their homes due to social distancing requirements.”
The Lumina team, consisting of Andrew Nichol, Gareth Williams and Feico Boonstra, lead-advised the regional group of investors.
In terms of regional purchasing habits, luxury gifting and kitchen storage and utensils have seen the fastest growth in sales compared to the same period in 2019. Luxury dining, bathroom accessories and decorative home accessories have seen significant growth.
