Advertisement
|19 February, 2019

After UAE, Saudi expansion, Alabbar-owned Noon to open in Egypt

Noon Egypt is based in Smart Village and the team on ground is currently in the testing phases before the official launch

Mohamed Alabbar, founder of noon.com and Chairman of Emaar.

Mohamed Alabbar, founder of noon.com and Chairman of Emaar.

Handout

E-commerce platform Noon on Tuesday announced its imminent expansion into Egypt after its successful launch in Saudi Arabia and the UAE.

As Egypt is the third regional market of Noon, the e-commerce platform, owned by prominent Emirati businessman Mohamed Alabbar, promises to bring customers in the Arab world's most populous country more choice, affordability and convenience across a wide range of products.

“Customers in Egypt are welcome to try Noon’s offering via desktop or app, shopping across a wide range of products at incredible prices, during this initial test period,” the Middle East’s homegrown digital marketplace said in a statement.

Advertisement

Noon Egypt is based in Smart Village and the team on ground is currently in the testing phases before the official launch, along with having a fully operational Customer Fulfilment Centre (CFC) in Greater Cairo’s Abu Rawash area.

The e-commerce platform plans to include five additional CFCs in a bid to ensure quick and efficient service to all Egyptian cities and governorates.

Commenting on launching Noon Egypt, the e-commerce platform founder Mohamed Alabbar said, “E-commerce is still relatively new in Egypt, and noon has the opportunity to help shape a digital marketplace perfect for the country with this beta launch. We’re so excited to start building strong relationships with the local retail community and customers, supporting Egypt’s growth and entry into e-commerce.”

A big number of retailers operating in Egypt have “zero or limited online presence”, the statement said.

By using Noon as their online platform, small and large-scale retailers will enjoy more visibility, access to a wider customer base, an opportunity for boosting sales and a bigger share of the e-commerce market, the statement added.

Noon plans to recruit Egyptian talent to join the local team.

In December 2017, Noon started its operations in Saudi Arabia, marking a new era for e-commerce in the kingdom.

The Saudi public investment fund (PIF), the region’s market leaders, small and medium enterprises (SMEs), and a prominent group of the GCC investors have  backed Noon to acquire the largest e-commerce stake in the region.

Mohamed Alabbar announced last July plans to boost Noon’s footprint in online groceries business within the next six months.

The e-retailer would look for partners for its new groceries division, Alabbar told CNN, adding that it might resort to acquisition if a suitable partner would not be available.

Noon previously uncovered the launch of two entities in China, one on the mainland and the other in Hong Kong.

The new partnerships will kick off Noon’s Asia operations, the company founded by Mohamed Alabbar commented.

It is worth noting that Kuwait’s MH Alshaya Co acquired a strategic stake in Noon in September 2017.

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Business