Noon.com, a $1 billion e-commerce platform founded by Emaar Properties chairman Mohamed Alabbar, launched its operations on Saturday in the United Arab Emirates.
The digital marketplace, which also has a downloadable app, will be selling electronics, fashion items, beauty, home & kitchen products, as well as baby products. The platform is set to go live in Saudi Arabia in the coming weeks, the company said in a statement.
Noon is backed by Saudi Arabia’s Public Investment Fund (PIF), Kuwait’s M.H. Alshaya & Co., as well as other prominent Gulf investors.
“As digital technologies cause disruptions across industries and geographies, it is important for us to shape a digital marketplace that is relevant to our local markets and serves as a growth platform for brick-and-mortar retailers,” Alabbar said in the statement.
Noon has recruited young Arab and global talent with e-commerce backgrounds to help launch its offices in Riyadh and Dubai, the statement added. This includes youth from Saudi Arabia, UAE, and other countries in the Middle East region.
Write to Reem Abdellatif at reem.a@argaam.com
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