NOON, the digital marketplace created in the region, for the region and powered by the region’s leading retailers, today signed a partnership agreement with United Electronics Company (eXtra) that establishes the Saudi electronics giant as Noon’s exclusive partner for a range of consumer electronics and home appliance items such as Samsung, LG, Sony, Braun, Kenwood and Moulinex, among others.
The strategic agreement positions eXtra and Noon as key partners in the fast-growing e-commerce market in the region. The two companies will collaborate on commercial, marketing and supply chain platforms to bring a world-class shopping experience to the region’s online shoppers.
Noon is an Arabic-first offering, built to cater to the expectations of the region’s customers and retailers and to deliver a warm, attentive and personalized service. Noon partners with market leaders, small & medium enterprises, helping them gain a greater share of the e-commerce market in the region.
“Our partnership with eXtra is consistent with our vision of making Noon a platform for the region’s retailers to come together on a digital marketplace. We believe this partnership will improve Noon’s value proposition to its customers in Saudi Arabia and the UAE,” said Mohamed Alabbar, founder of Noon. “Valuable and strategic partnerships with leading retailers such as eXtra enables Noon’s continued growth. Our strong connections with the local retail community add to our growing product assortment allowing us to offer more choices to our customers.”
Abdullah Al Fozan, chairman and founder of eXtra, said: “Such a strategic agreement is just another example of eXtra’s constant effort in developing partnership to deliver regional and local market growth.” He also stressed on the importance of driving the Kingdom’s economic growth in line with Saudi Vision 2030. “This partnership will make a positive impact on the market growth, including the creating of new job opportunities for the youth in the Kingdom,” he added.
Mohamed Galal, CEO eXtra, said that the vision of eXtra’s partnership with Noon is to deliver customer flexibility, enabling them to buy from anywhere, at any time, delivered at any place, or picked from 43 stores in 26 cities, offering various payment option — Sadad, credit card, installment, cash on delivery, and supported with eXtra’s lowest price guarantee, and extensive after sale services.
Launched in October in the UAE, Noon is headquartered in Riyadh and is set to start serving customers in Saudi Arabia very shortly. With offices in Riyadh and Dubai, Noon seeks to empower the region’s youth to participate in the growing digital economy. Noon employs some of the brightest young Saudi, Emirati and Arab talent and is actively opening the digital marketplace to emerging entrepreneurs, adding to its active supplier base in the region.
As today’s customers demand convenience, choice, quality and service excellence, all at their fingertips, Noon is for them – an online retail platform like never-before, built in the region for the region.
Noon, both on the web and App, puts customers at the center of its universe. Customers will be spoiled for choice with millions of products across every conceivable touch-point.
Noon’s proprietary customer-centric technology includes a dedicated secure payment gateway, delivery fleets and advanced fulfillment center. Noon thus brings an abundance of choice, delivered on time, in absolute security and confidence.
Noon is an idea that has come of age, brought to life by Mohamed Alabbar, a visionary entrepreneur, in a joint venture with Saudi Arabia’s Public Investment Fund and a group of prominent Gulf investors with an initial capital outlay of $1 billion. Noon is the future of retail
eXtra, a 100% Saudi Capital Company, listed on the Saudi Stock exchange, was established in 2003 in Saudi Arabia by United Electronics Company (UEC) to deliver to customers a complete shopping experience for consumer electronics and home appliances from leading brands such as Samsung, LG, and Sony.
Today eXtra is the most popular electronics store with 43 stores across the Kingdom and GCC. eXtra offers a broad range of products including TVs, mobiles, laptops, cameras, home appliances and personal care products. The product range is supported by comprehensive after-sales services such as extended warrantee, free home delivery, AC installation, product maintenance and repair and financing.
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