M.H. Alshaya Co. has acquired a strategic stake in Noon, the region’s new e-commerce platform. Alshaya will also become a seller on Noon’s marketplace platform making it the
latest large retailer to list its products on Noon.
Mohammed Alshaya, executive chairman of Alshaya, says in a statement: “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, adds: “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.