FASHION | Huda And Mona Kattan Champion Sustainability By Investing In This Luxury Resale Platform

Following its launch in 2012, The Luxury Closet has gone on to become one of the world’s leading luxury resale platforms. A celebration of circular-fashion, the brand’s business model is centered around an aspirational dream in which value – oriented shoppers can make purchases rooted in both, quality and sustainability. Now, in a strategic partnership founded on harnessing the combined knowledge of consumer behavior in fashion and beauty. The Luxury Closed has welcomed Huda Beauty Investment (HBI) onto their board of shareholders.

As a principal shareholder in the business, HBI will apply their expertise to areas such as brand development and social media. In a bid to expedite growth across markets, the partnership will also drive awareness towards the concept of resale. Alongside the brand’s existing board of shareholders; including Middle East Venture Partners (MEVP), Wamda Capital, Knuru Capital, and Precinct Partners, HBI will be represented by Mona Kattan, Co-Founder and Global President of Huda Beauty.

In a statement released today, CEO and Founder of The Luxury Closet, Kunal Kappor said, ‘Given the economic situation, people are increasingly valuing circular businesses as they are an affordable and sustainable way to refresh their wardrobes’. Going  on to address the partnership he continued, ‘HBI’s investment in The Luxury Closet is excellent news for our company. The partnership will help us bring the concept to a whole new audience.’ Also commenting on their new investment Chairperson of HBI Mona Kattan said, ‘I have always been an advocate of circular fashion, and I am very excited about our endeavors with The Luxury Closet’. ‘At the beginning of our entrepreneurial journey, we did not have the means to purchase fashion Luxury items and thus opted for vintage and second-hand shops’, said Kattan. ‘I’m very pleased to be part of the board alongside likeminded individuals and a business that offers a unique service that fills a major gap in the board alongside likeminded individuals and a business that offers a unique service that fills a major gap in the market’.

As the private investment office of the founders of Huda Beauty, HBI intends to incubate and invest in early-stage businesses. Through the application of their unique marketing and distribution platforms, the office helps brand such as The Luxury Closet grow and expand. Led by Huda Beauty founders, Huda, Alya and Mona Kattan, and Christopher Goncalo, the office is based in Dubai and headed by CEO Karan Wats.

FASHION | Saudi Arabia Taps Ex-Parson Dean Burak Cakmak To Lead Kingdom’s Fashion Commission

Saudi Arabia has announced the announced the appointment of Burak Cakmak, the former dean for the College of Fashion at Parsons School of Design at The News School, to lead the Kingdom’s Fashion Commission, according to an announcement by the Ministry of Culture. Cakmak will officially led the Fashion Commission as CEO, with the task … Continue reading FASHION | Saudi Arabia Taps Ex-Parson Dean Burak Cakmak To Lead Kingdom’s Fashion Commission

ROYALS | UK’s Princess Eugenie Names Baby Son August, Buckingham Palace Says

Britain’s Princess Eugenie, granddaughter of Queen Elizabeth, and her husband Jack Brooksbank have named their son August Philip Hawke Brooksbank, Buckingham Palace said on Saturday. The couple’s first child was born earlier in February, and his name includes an apparent not to the queen’s 99-year-old husband Prince Philip, who is in hospital on a precautionary … Continue reading ROYALS | UK’s Princess Eugenie Names Baby Son August, Buckingham Palace Says

ROYALS | Prince Harry, Megan Won’t Return To Royal Family Roles: Buckingham Palace

Prince Harry and his wife Meghan made their final split with the British royal family, telling Queen Elizabeth that they will not be returning as working members of monarchy, Buckingham Palace said on Friday. Harry and Meghan, who announced they are expecting their second child on Sunday, shocked senior royals last year by announcing plans … Continue reading ROYALS | Prince Harry, Megan Won’t Return To Royal Family Roles: Buckingham Palace

ROYALS | ‘Overjoyed’ Harry And Meghan Expecting Second Child

Britain’s Prince Harry and his wife Meghan, the Duke and Duchess of Sussex, are expecting their second child, a spokesperson for the couple said on Sunday. Harry, 36, and Meghan, 39, stepped back from royal duties in January 2020 and moved with their son Archie to Southern California to live a more independent life and … Continue reading ROYALS | ‘Overjoyed’ Harry And Meghan Expecting Second Child

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