NAMSHI was founded in 2011 and incorporated in Dubai, [[United Arab Emirates (UAE)]], by Hosam Arab, Faraz Khalid, and Hisham Zarka. It started as an online fashion retailer focused on the Middle East market. Notable investors in its early stages included Rocket Internet (German e-commerce investor) and Summit Partners. The company went through significant ownership changes: in 2017, [[Emaar Malls]] acquired a 51% stake, then bought the remaining 49% in 2019 for about $129.5 million to take full ownership. In a recent development, [[Noon]] (another Middle Eastern e-commerce platform) acquired NAMSHI from Emaar for $335.2 million in 2022.