Tashkeela Exhibition Exposes Saudi Designers to Int’l Fashion Markets

The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)
The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)
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Tashkeela Exhibition Exposes Saudi Designers to Int’l Fashion Markets

The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)
The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front. (SPA)

The Saudi Fashion Commission inaugurated Saturday in Riyadh the second "Tashkeela" exhibition at the ROSHN Front, offering a platform for local talent and brands to unveil their latest collections, The Saudi Press Agency said on Monday.
From ready-to-wear to high-end fashion, the exhibition, which lasts until March 19, boasts a diverse range of designs, including accessories, handbags and shoes, jewelry, and perfumes.
This wide-ranging display is expected to cater to the taste of a wide audience, and attract local fashion experts, influencers with a keen eye for trends, and investors seeking to support the burgeoning Saudi fashion sector.
Shoppers eager to discover the latest styles and champion local businesses will also find themselves immersed in a dynamic fashion experience.
Fashion Commission CEO Burak Çakmak said in an interview with SPA at the opening of the exhibition that the commission's primary objective is to bolster the fashion industry both locally and internationally. This entails creating opportunities for Saudi brands to access retail markets in the Kingdom of Saudi Arabia and globally.
The event highlights the work of over 160 Saudi designers, including participants in the commission's "100 Saudi Brands" program, which offers training and guidance throughout the year to empower Saudi fashion designers and establish them as successful brands.
The "Tashkeela" exhibition enjoys clear success – the first edition attracted a staggering 22,000 visitors in the course of four days. Building on that achievement, the second edition features not only Saudi designers but also designers from Arab and other countries. This creates a dynamic platform for showcasing diverse fashion talents, Çakmak said.



E-retailer Zalando to Buy About You for $1.2 Bln

FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa
FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa
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E-retailer Zalando to Buy About You for $1.2 Bln

FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa
FILED - 03 March 2021, Berlin: The logo of online retailer Zalando is pictured on the Zalando Campus at Mercedes-Platz in Berlin. Photo: Jens Kalaene/ZB/dpa

German online retailer Zalando said on Wednesday it had struck a deal to buy rival fashion group About You for 1.1 billion euros ($1.2 billion), as part of plans to create a pan-European e-commerce platform.
The cash offer corresponds to 6.50 euros per share, a 107% premium to About You's three-month average stock price. About You's shares closed at 3.90 euros on Tuesday, Reuters reported.
Zalando's shares were down 8% at 0805 GMT, headed for their biggest daily percentage fall in two years, following news of the deal.
The proposed takeover comes as the rapid growth of low-priced fast-fashion retailer Shein has put pressure on online players across Europe that have struggled to compete on price.
"The planned two-brand strategy would significantly increase the group's presence in the pan-European markets," said About You's major shareholder, German retail group Otto.
The combined business of Zalando and About You aims to have an adjusted earnings before interest and taxes (EBIT) margin of between 10% and 13%, Zalando said in a statement.
Zalando said that Otto and an investment company controlled by Heartland A/S, as well as About You's board members, had decided to accept the offer.
Otto brought About You onto the stock exchange three and a half years ago at an issue price of 23 euros per share.