Noon Is Moving Next Door To Saudi Arabia Even Though It Hasn't Even Launched Yet
This better not affect delivery costs
noon is the mammoth online shopping portal that's launching soon, but not where we first expected.
The market platform is relocating it's operational base to Riyadh in Saudi Arabia. The company is 50 percent backed by Emirati billionaire and the founder and Chairman of Emaar Properties Mohamed Alabbar, along with a group of GCC investors and the other 50 percent comes from Saudi Arabia's public investment fund.
The investment totals to AED 1 billion and once it launches, consumers will have access to over 20 million products...so chances of saving in the next few months looks pretty much nil basically.
Noon is going to operate from Riyadh
“Following the launch of noon, our permanent operational base will be in Riyadh, and we are currently scaling up our resourcing and operations there. This allows us an excellent opportunity to bring into the organisation some of best new young Saudi talent working in this field.Mohamed Alabbar, founding partner of noon
Watch out Souq and Amazon
Noon has the potential to disrupt the nascent e-commerce market in the region. I would like to thank our partners, the Public Investment Fund (PIF) of Saudi Arabia, for their continued support and guidance through this process, and our highly dedicated team of experts from a variety of fields, now working around the clock as we translate our vision into reality."Mohamed Alabbar, founding partner of noon
The launch is on track
“I am pleased to confirm that noon is on track to launch this year. Our beta programme has been very insightful, and all the feedback we received from our early customers has allowed us to test and refine our technology and fulfilment model.
noon will lead the way in regional e-commerce. We aim to deliver a market-leading customer experience by leveraging great supplier relationships, reliable technology, robust payment systems, and highly scalable fulfillment infrastructure.
We are establishing strategic partnerships with an extensive range of regional retailers, distributors and global brands. These partnerships will allow noon to provide its customers with a broad catalogue of product across categories. With noon, we aim to deliver an e-commerce platform that creates long-term economic value, is truly relevant to the region and supports its home-grown enterprises.
“It is vital that all our systems and processes work at the highest possible level. The coming months will be spent to ensure this, particularly with some of the many supply chain innovations we have been developing.
We are excited by what our team has been able to achieve in a short time. In the past few months, we have onboarded additional expertise to enhance our management team and help execute on our plans."Mohamed Alabbar, founding partner of noon