Alshaya Invests in Noon
International retail franchise operator M.H. Alshaya Co. has acquired a strategic stake in Noon, the region’s new e-commerce platform. As new investors in Noon, Alshaya joins forces with other prominent Gulf investors. Additionally, Alshaya will become a seller on Noon’s marketplace platform, listing a portfolio of international brands covering the fashion, health & beauty and home & lifestyle categories.
Alshaya becomes the latest large retailer to list its products on Noon, which serves as the value-added digital platform for retailers to reach a wide and fast-growing base of online customers in the Middle East.
Mohammed Alshaya, Executive Chairman of Alshaya, said: “We see great value in our partnership with Noon, which complements our existing online channels. We are impressed by Noon’s capabilities, and we are excited to partner with the Noon team to present a winning value proposition for the region’s online shoppers. We are focused on delivering a multichannel retail experience for our customers and creating added value for our brand partners. Our partnership with Noon will allow us to expand our customer base, reach new market segments, and participate in the next level of growth in regional e-commerce.”
Mohamed Alabbar, founder of Noon, said: “It is our privilege to partner with Alshaya and give our customers access to Alshaya’s leading international brands. Noon brings a new business model for e-commerce, developing a strong supply chain that benefits regional businesses. We will work with the region’s leading brands and retailers to help them grow their business through Noon.”
Set to launch later this year, Noon will offer an extensive range of international brands, covering categories that are popular among youth, families and children.
Noon will use its advanced technology, fulfillment infrastructure, payment gateway and final-mile delivery systems to provide an experience for all types of customers including sports fans, fashion shoppers, book lovers, adventurers and new parents.