Digital-first fashion group Sumwon Studios said on Monday it has established Dubai as its global headquarters as it scales towards $1 billion in revenue by 2028, marking a new phase of international expansion.

The company, which operates a portfolio of digitally native fashion brands, said it generated about $300m in revenue in 2025 and has expanded rapidly since its launch in 2023.

Founded in Dubai, Sumwon Studios said it now operates across Europe, North America, the GCC and other emerging markets, with a workforce of more than 150 employees globally.

The group said Dubai will serve as its central hub for design, operations and content production, supporting faster product cycles and coordinated global execution as it expands into new markets, including India.

Sumwon Studios said it is also developing a 120,000-square-foot headquarters in Dubai, which will consolidate its operational, creative and content functions.

CEO Nitin Passi said Dubai had been central to the company’s growth since its inception.

“Dubai has been central to our journey from the beginning. It continues to offer the connectivity, talent and pace we need to build and scale a global business,” Passi said.

The company said its revenue base is currently weighted across Europe at about 45 per cent, North America at 30 per cent, the GCC at 10 per cent, and Asia and Latin America at 10 per cent.

Sumwon Studios operates at the intersection of fashion and technology, using real-time data to guide product development and inventory decisions, which it says helps reduce reliance on traditional forecasting models and shortens go-to-market timelines.

The company’s expansion aligns with Dubai’s broader strategy to position itself as a global hub for the digital economy and creative industries.

Sumwon Studios said it is expanding hiring across technology, creative and operations roles as it builds out its global platform from its Dubai base.

Saudi Arabia’s Ministry of Hajj and Umrah has announced new measures for domestic Hajj bookings while unveiling expanded digital services aimed at improving preparations for the upcoming Umrah season.

The ministry confirmed that a new payment system for domestic Hajj reservations will come into effect on Friday, May 15, targeting citizens and expatriates who completed registration and secured seats through the Nusuk electronic application, a Saudi Gazette report said.

Under the updated process, pilgrims will initially receive a 72-hour payment window for reservation invoices until Dhul Qada 27, Thursday. However, beginning on Dhul Qada 28, Friday, the payment deadline will be reduced dramatically to just six hours.

Officials said the move is intended to maximise opportunities for a larger number of beneficiaries seeking to perform Hajj this year.

“The reservation will be automatically canceled in case of non-payment within the new specified period,” the ministry said, noting that all payments must be processed through the SADAD system as part of integrated digital procedures designed to organise seat allocation and ensure fairness.

Ministry launches new Umrah contracting platform

In a separate development, the Ministry of Hajj and Umrah also launched a new service on Monday to qualify external agents and finalise contracts for the 1448 AH Umrah season through the Masar Nusuk platform.

The initiative is part of Saudi Arabia’s broader effort to automate pilgrimage-related services and improve operational efficiency across the Hajj and Umrah ecosystem.

According to the ministry, the new service enables complete digital automation of contracting procedures and introduces a standardised electronic contract model verified through QR codes on the Nusuk platform.

The ministry further revealed that Saudi Umrah companies will soon be able to contract directly with domestic service providers through Masar Nusuk. The services will include accommodation, transportation, catering, value-added services, and package design for pilgrims.

The announcement comes ahead of the opening of Umrah visa applications and processing on 14 Dhul-Hijjah, corresponding to May 31. Umrah permit issuance through the Nusuk app is scheduled to begin a day later on 15 Dhul-Hijjah.

The ministry said the latest measures are aimed at enhancing pilgrim experiences, improving service quality, and strengthening digital integration throughout the sector.

A landmark visa-free travel agreement between Saudi Arabia and Russia officially entered into force on Monday, May 11, 2026, marking a major step in strengthening ties between the two countries.

The agreement allows Saudi and Russian citizens to travel between the two nations without obtaining visas for short-term visits, in a move expected to significantly boost tourism, business travel, and cultural exchange, a Saudi Gazette report said.

Read more-UAE passport powers ahead: Visa-free access to 187 destinations

Officials described the agreement as a reflection of the growing partnership and longstanding diplomatic relations between Riyadh and Moscow. The new policy comes as the two countries commemorate 100 years of Saudi-Russian diplomatic relations.

Under the agreement, holders of diplomatic, special, and ordinary passports are all eligible for visa-free entry. Russia also becomes the first country to sign a visa exemption agreement with Saudi Arabia that includes ordinary passport holders.

Tourism and business travel expected to rise

The visa exemption applies to travel for tourism, business, and family visits. Citizens from both countries will now be permitted to stay for up to 90 consecutive days, or for a total of 90 days within a single calendar year without a visa.

However, authorities clarified that the agreement does not apply to travel for work, study, residency, or Hajj. Travelers visiting for those purposes will still be required to obtain the appropriate visas before entering either country.

Observers said the agreement is expected to increase mutual visits and open new opportunities for economic, tourism, and cultural cooperation between the two nations.

Officials also noted that the deal highlights the shared commitment of Saudi Arabia and Russia to expanding collaboration across several sectors and strengthening people-to-people ties.

Dubai’s private schools will observe a nine-day Eid Al Adha break later this month, according to announcements by the Knowledge and Human Development Authority (KHDA), as the emirate aligns holiday schedules with the UAE’s unified academic calendar.

The holiday for private schools will begin on Monday, May 25, and continue until Friday, May 29, with classes scheduled to resume on Monday, June 1.

The extended closure effectively creates a nine-day break for students and staff when combined with the preceding and following weekends.

KHDA confirmed the dates through an announcement on a social media post, wishing students and families “a happy holiday and wonderful times” during the Eid Al Adha period.

The holiday schedule is in line with the UAE’s unified academic calendar framework introduced for the 2025–2026 academic year, which standardised school term dates and holidays across public and private institutions nationwide.

The development comes as schools across the UAE continue adjusting academic schedules, revision plans and parent communications ahead of the final stretch of the academic year and end-of-term examinations

Talabat Holding reported stronger-than-expected first-quarter 2026 performance on Monday, with gross merchandise value (GMV) rising 18 per cent year-on-year to $2.7bn, supported by an expanded customer base, improved Ramadan operations and favourable Eid seasonality.

Revenue increased 23 per cent to $1bn, while adjusted EBITDA stood at $30m, equivalent to 4.8 per cent of GMV, and net income was $87m, or 3.2 per cent of GMV.

Free cash flow rose 7 per cent to $104m.

The company said performance reflected disciplined execution of its strategy and continued investment in its “Everyday App” initiative, supported by a $120m investment programme announced earlier this year.

Talabat increased its full-year net income guidance by $20m to $300m to $330m, while reaffirming its outlook for GMV growth of 11 per cent to 14 per cent, revenue growth of 14 per cent to 17 per cent, adjusted EBITDA of $510m to $540m, and free cash flow of $370m to $400m.

The company also said it expects to begin a share buyback programme of up to 5 per cent of issued share capital “soon after” the results announcement.

Chief executive officer Toon Gyssels said the company delivered a strong start to the year despite a “dynamic environment of heightened uncertainty”, adding that operations remained focused on service continuity and safety across its markets.

GMV growth was driven by both GCC and non-GCC markets, with GCC GMV rising 12 per cent to $2.1bn and non-GCC GMV increasing 52 per cent to $563m.

Talabat said it continues to operate a capital allocation framework that includes a 90 per cent dividend payout ratio alongside reinvestment in growth initiatives.

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