$1bn e-commerce platform Noon.com now live in the UAE
Mohamed Alabbar founded digital marketplace is a joint venture between Saudi Arabia's PIF and a group of Gulf investors
Noon.com, the $1bn e-commerce joint venture founded by Mohamed Alabbar, is now live for customers in the UAE.
The digital marketplace is a joint venture between Saudi Arabia's Public Investment Fund and a group of prominent Gulf investors, including Kuwait-based retail franchise operator MH Alshaya Co, which acquired a strategic stake in recent weeks.
With a large assortment of original products at launch through partnerships with local retailers, Noon offers customers in the UAE a selection of fashion brands and an extensive selection of baby products and homeware.
For millennials, Noon is showcasing a collection of modern gadgets and electronic goods. Noon will also cater to the needs of book lovers, adventurers and new parents.
Noon said its website will go live in Saudi Arabia in the coming weeks.
In conjunction with the website going live, Noon has also launched a mobile app on Google Play, with the Apple version set to be available "in the coming days".
Noon said the digital marketplace is a customer-focused, Arabic-first e-commerce platform that has been "built to cater to the expectations of the region's customers and retailers".
"Noon will use its local roots to deliver a service that is warm, attentive and personalised," the news release sent to media said.
"Today, we are excited to deliver orders to our first customers," Mohamed Alabbar said.
"We are proud to take this important first step in our journey, and we are committed to making Noon the region's Arabic-first e-commerce platform."
He added: "As digital technologies cause disruptions across industries and geographies, it is important for us to shape a digital marketplace that is relevant to our local markets and serves as a growth platform for brick-and-mortar retailers."
(Source: Arabian Business)