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Leading regional conglomerate commits to investment in Wadi Grocery to set up the online delivery system within the region of KSA
Dubai: Majid Al Futtaim, the leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa and Asia today announced an investment in Wadi which operates Wadi Grocery, the fastest growing online grocery delivery platform in Saudi Arabia. The investment in Wadi is part of a US$ 30 million funding round that will help set up the delivery mechanism for all Carrefour stores within KSA.
As part of the agreement, Carrefour will become Wadi Grocery’s long-term strategic partner for supplying food and non-food groceries. This partnership will provide customers access to over 12,000 high-quality products at the same great value prices found in Carrefour stores, delivered within a two-hour window on the platform, making the quick delivery of such a wide product offering the first service of its kind in the Middle East. Wadi Grocery is currently operating within Riyadh, Jeddah and Dammam for Carrefour, and will gradually extend to customers in all cities throughout the kingdom where Carrefour is present.
Ankit Wadhwa co-founder and Managing Director of Wadi, said: “We believe that the two key drivers for success in the e-grocery market are a wide, price-competitive assortment and fast, reliable delivery. With Carrefour we have the best partner to bring e-grocery to every household in the Kingdom and beyond." He continued "We are proud of what we have achieved to date and look forward to increased success with the support of Majid al Futtaim”.
This agreement is the latest investment from Majid Al Futtaim, as part of its digital transformation aimed at extending its leadership beyond traditional retail and into an omni-channel proposition.
Hani Weiss, Chief Executive Officer at Majid Al Futtaim - Retail, said: “Saudi Arabia is a strategically important market for Majid Al Futtaim, and we are constantly looking for ways to expand in the Kingdom and serve our growing client base beyond our existing stores. Wadi Grocery provides a full ecosystem of enabling services including an in-house ‘last mile’ delivery network, and our investment in the platform will bring us closer to customers where we don’t have physical presence and fulfill their demand more efficiently.”
Within the last few quarters, Wadi Grocery has been able to grow intrinsically within the Saudi market by offering the largest product assortment among its competitors and excellent service mechanism. And with this strategic partnership, Wadi validates its strong presence and consumer insights for an important market like KSA.
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About Wadi Grocery:
Wadi is an online marketplace that aims to be the online shopping portal with the broadest range of products available, for the people of KSA and United Arab Emirates (UAE). With evolving customer demands in mind, Wadi launched the Wadi Grocery services in three major cities of KSA – Riyadh, Jeddah, and Dammam. With a promise of delivery within 2 hours, Wadi grocery is the biggest grocery delivery service in KSA. Wadi grocery offers of more than 20,000+ products catalogue that include fresh produce, dairy products, personal care brands, household supplies, kitchen essentials etc
To browse the online store, please visit www.wadi.com and for customer service please dial 800 HI WADI or say hello on social media - Twitter: @Wadi / Instagram: @Wadi / Facebook: @Wadi
About Carrefour
Carrefour is one of the largest hypermarket and supermarket chains in the world. The brand was launched in the region in 1995 by Majid Al Futtaim, which is the exclusive franchisee to operate Carrefour in 38 countries across the Middle East, Africa, and Asia.
In 1995, Carrefour opened its first hypermarket in City Centre Deira UAE and through the years, expanded to over 250 Carrefour stores in 15 countries across the region, more than 750,000 customers a day. Carrefour operates different hypermarket and supermarket stores to meet the growing needs of its diversified customer base. In line with the brand’s commitment to provide the widest range of quality products and value for money, Carrefour today offers an unrivalled choice of more than 100,000 food and non-food products as well as thousands of household goods. Carrefour is dedicated to rewarding its loyal customers and offering access to a unique and pleasant shopping experience through special offers and promotions throughout the year. Carrefour is committed to continued business growth in convenient locations across the Middle East, Africa, and Asia to create great moments for everyone, every day. More than 36,000 colleagues work at Carrefour stores operated by Majid Al Futtaim Retail.
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. A remarkable business success story, Majid Al Futtaim started from one man’s vision to transform the face of shopping, entertainment and leisure to ‘create great moments for everyone, every day’. It has since grown into one of the United Arab Emirates’ most respected and successful businesses spanning 15 international markets, employing more than 43,000 people, and obtaining the highest credit rating (BBB) among privately-held corporates in the region.
Majid Al Futtaim owns and operates 23 shopping malls, 13 hotels and four mixed-use communities, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, Mall of Egypt, City Centre malls, My City Centre neighbourhood centres, and four community malls which are in joint venture with the Government of Sharjah. The Company is the exclusive franchisee for Carrefour in 38 markets across Middle East, Africa and Asia, and operates a portfolio of more than 250 outlets in 15 countries. Majid Al Futtaim operates over 340 VOX Cinema screens and 37 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai, Orbi Dubai and Ski Egypt, among others. The Company is parent to the consumer finance company 'Najm', a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints, lululemon athletica, Crate & Barrel and Maisons du Monde. In addition, Majid Al Futtaim operates Enova, a facility and energy management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also owns the rights to The LEGO Store and American Girl in the Middle East and operates in the food and beverage industry through a partnership with Gourmet Gulf.
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