Hosam Arab, the co-founder as well as CEO of Dubai-based fashion ecommerce system Namshi has stepped down from his duty less than two weeks after it was completely acquired by Mohamed Alabbar’s Emaar Malls. He revealed the choice in an email sent to his group recently.
A screenshot of the e-mail was shared by Omar Kassim, founder of Esanjo as well as JadoPado, on Twitter, earlier this morning.
” Last week, we revealed the full sale of Namshi to Emaar Malls, our partner and also maiority shareholder over the past year and a fifty percent, and with it, I also introduced my objective to state good bye as well as step down as centimeters of Namshi,” he said in the email.
Hosam did not share any kind of specifics regarding why he is leaving in the email yet created that “there really is never ever going to be a great time to leave such an unbelievable place. For me directly, this juncture seemed like one of the most ideal and all-natural.”
” The collaboration with Emaar Will definitely bring wonderful value to business in terms of new opportunities for development as well as individual development for you,” he included.
Talking with MENAbytes regarding what’s following for him, Hosam claimed that the will be taking the following few months to hang out with the family, “During that time, I will certainly be exploring ideas most likely in the electronic area and also most likely right here in the region.”
Established in 2011 by Muhammed Mekki, Louis Lebbos, Hosam Arab, Faraz Khalid, and also Hisham Zarka, Namshi was among the first Rocket Internet ventures in the area. Here your namshi coupon code.
Muhammad Mekki and also Louis Lebbos left the startup a little after one year to start Astrolabs that is currently among the leading coworking rooms in UAE and has actually broadened to Saudi lately, and also Faraz Khalid left Namshi after Alabbar’s Emaar Malls obtained 51% stake in the firm, to sign up with an additional Alabbar possessed ecommerce system, Noon, as CEO.
It is unclear who will certainly be leading Namshi after Hosam’s separation.