Emirati brand Carter & White succeeds in raising AED 40 million in their first round of funding.

كتب Fintech Gate 30 أبريل، 2023

فنتيك جيت: Fintech Gate 30 أبريل، 2023

Dubai:United Arab Emirates

Specialists in luxury clothing and accessories, Emirati brand Carter & White successfully raised AED 40 million in their first round of funding “Series A”. The goal of which is to be listed internationally in global financial markets by 2027.

The company stated that the recent round of funding will be invested to attract a new segment in regional retail markets; UAE, Saudi Arabia, other GCC countries and eventually Europe. Carter & White is currently preparing to open its first store in Al Faisaliyah Center in the heart of Riyadh, KSA, during the fourth quarter of this year. This will be followed by the opening of more stores in Kuwait, Doha, Jeddah as well as other Gulf countries.

Carter & White will open its first internationally based pop-up this summer in Porto Cervo, Italy, from June 1 to September 30, 2023.
Mr. Abdullah bin Saeed Al Naboodah, Chairman of Carter & White, said: “We are proud of our accomplishments and keen to continue on this path of growth and expansion in the GCC, as well as gaining ground in new international destinations.”

It is noteworthy that the “Carter & White” Board of Directors includes Mr. Abdullah bin Saeed Al Naboodah, Chairman of the Board, and members Mr. Hamad bin Jassim Al Darwish, Mr. Fayrouz Kapadia, Mr. Majid Al Ghaslan, and Mr. Marwan bin Yousef Al Serkal.

Carter & White currently operates 9 stores, 7 of which are in Dubai (City Centre Mirdif, Al Khawaneej Walk, Dubai Harbour, Blue Waters, Dubai International Financial Center, Galeries Lafayette) and 2 in Abu Dhabi (The Galleria Al Maryah Island, Marina Mall Abu Dhabi).

Carter & White has been able to generate great brand awareness with achievements in local, regional, and international exhibitions, opening a multitude of stores and initiating direct sales channels.

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