Noon hires former Namshi co-founder Faraz Khalid as CEO
Noon, the a new e-commerce platform, is set for launch later this year
Emaar Properties chairman Mohamed Alabbar, founder of Noon, has appointed Faraz Khalid as chief executive officer.
Khalid is the former co-founder and managing director of Namshi, the Middle East's online fashion retailer.
In his newly appointed role, Khalid will lead a team responsible for driving the operations of Noon, as well as forming long-term partnerships, enhancing Noon's infrastructure capabilities, in particular in Saudi Arabia, and build a technology platform with a customer experience focus.
Noon's Alabbar, said: "We are on track to launch Noon this year with the final work on the fulfilment infrastructure and payment systems being completed. Several of the region's leading brand owners and suppliers have come on board, underlining our local strength.
"Faraz has built a successful e-commerce business in the region, and brings the right domain experience and market knowledge to his role as Noon's Chief Executive Officer. We are confident that along with the team at Noon, Faraz will deliver an e-commerce platform like no other in the region."
Khalid added: "Noon presents the opportunity to create a dynamic e-commerce platform for, by and in the region. With our local market knowledge and presence, and our focus on product authenticity, supplier value creation, superior logistics, professional service and competitive pricing, we aim to bring a transformational e-commerce experience to the Middle East."
Earlier this year, it was announced that the e-commerce platform would go live this year and operations will be based in the Kingdom of Saudi Arabia.
Noon is a $1bn joint venture between Saudi Arabia's Public Investment Fund and a group of Gulf investors. The e-commerce platform will host a range of products from fashion, beauty and fitness to technology and games.