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Kasamar buys 49% stake in Gallery One

Investment a platform for expansion as cultural retailer seeks consolidate in the GCC

Gulf News

DUBAI:

Abu Dhabi’s Kasamar Holdings said it has acquired a 49 per cent stake in Dubai-based cultural retailer Gallery One.

Gallery One recently reached 100 sales channels through its own shops, franchises and third-party outlets. It plans to reach 300 channels by 2018.

Founder and CEO Gregg Sedgewick said the Kasamar investment would be a platform for further expansion. “We’ve built a strong and much loved brand, with Kasamar on board we can look to new areas for development. This investment will allow us to consolidate in the GCC before looking at new geographical territories.

“We will be focusing on the opening of new stores, the creation of further product ranges, expanding the workshop facilities and implementing robust retail systems.”

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