Joining forces with other prominent Gulf investors, retail franchise operator M.H. Alshaya has acquired a strategic stake in ecommerce platform Noon. As new investors in Noon, Alshaya will become a seller on Noon’s marketplace platform, listing a portfolio of international brands covering the fashion, health & beauty and home & lifestyle categories.
Alshaya becomes the latest large retailer to list its products on Noon, which serves as the value-added digital platform for retailers to reach a wide and fast-growing base of online customers in the Middle East.
Noon’s partnership with regional retailers underscores its value proposition, where it offers its suppliers market intelligence, single brand sourcing, authentic products and fast delivery to customers.
“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. This partnership will allow us to expand our customer base, reach new market segments, and participate in the next level of growth in regional ecommerce,” commented Mohammed Alshaya, Executive Chairman, Alshaya.
He reminded that Alshaya is focused on delivering a multichannel retail experience for its customers and creating added value for its brand partners.
“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,” added Mohamed Alabbar, the founder of Noon.
Set to launch later this year, Noon will offer a range of international brands, covering categories that are popular among youth, families and children.