Noon.com is looking to change the online shopping experience in the Middle East this January. The region’s newest e-commerce company, Noon will be a driver of innovation which will offer a vast product selection and fast delivery across all categories.
With an initial investment of US$1 billion, Noon will launch in the UAE and KSA markets and will soon cover the entire Middle East region rapidly. Noon aims to grow online sales in the region from 2 per cent of the total market (US$3 billion), to 15 per cent (US$70 billion) within a decade.
Emaar Properties Chairman Mohamed Alabbar, who is leading the venture with prominent GCC investors, described Noon as ‘nothing less than a quantum leap in retail in the region, and the world’.
We come with the endurance to build a customer-centric business for the long-term. For us, it’s a marathon, not a sprint. I am pleased to announce that the Public Investment Fund of Saudi Arabia will take 50 per cent equity in Noon. In addition, the head office of Noon will be based in Riyadh, Saudi Arabia.
— Mr Alabbar.
Noon brings a number of impressive firsts for the region:
- Biggest selection, with 20 million products covering fashion, books, home & garden, electronics, sports & outdoor, health & beauty, personal care, toys, kids and baby products, and more
- More than 10 million sq ft of warehousing. At 3.5 million sq ft the UAE fulfilment centre will cover more than 60 football fields
- Same-day delivery through Noon Transportation, an in-house express delivery service
- NoonPay, a secure and innovative payment gateway
Noon’s CEO, Fodhil Benturquia, said that a commitment to customer-centric service and innovative technology would be key to Noon’s success.
The customer is the purpose of our being, and we are here to win their hearts and their trust. He added: Our customer experience will be driven by state-of-the-art technology that will power everything from product discovery to purchase and delivery.
He said that Noon, through its mobile app and noon.com website, will be an end-to-end e-commerce retailer. “We want to be the partner of choice for sellers, whether they’re big or small. We invite them to be part of our ecosystem, working together to change the online shopping landscape for the Middle East customer.”
