Game-changing ecommerce platform Noon launching with US$1 billion investment
The online shopping experience in the Middle East will forever be changed with the launch of Twelve noon in January. The region's largest-ever ecommerce company, Noon will be a driver of innovation which will use a vast item choice and quick delivery across all classifications.
With a preliminary financial investment of US$ 1 billion, Midday will introduce in the UAE and KSA markets and will quickly cover the whole Middle East area rapidly. Midday intends to grow online sales in the area from 2 percent of the overall market (US$ 3 billion), to 15 per cent (US$ 70 billion) within a years.
Emaar Residence Chairman Mohamed Alabbar, who is leading the venture with prominent GCC investors, explained Midday as nothing less than a quantum leap in retail in the region, and the world.
I am delighted to announce that the Public Financial investment Fund of Saudi Arabia will take 50 per cent equity in Noon. In addition, the head office of Twelve noon will be based in Riyadh, Saudi Arabia."
" With Noon, we are using the most customer-centric ecommerce experience offered anywhere," he said. "In one move, we are releasing a future-focused business which is the greatest online shopping platform ever seen in the area. Twelve noon is a business born in the Middle East and serves consumers in the Middle East."
Noon brings a variety of excellent firsts for the region:
Greatest choice, with 20 million products covering style, books, house & garden, electronic devices, sports & outdoor, health & charm, personal care, toys, kids and baby products, and more
More than 10 million sq ft of warehousing. At 3.5 million sq ft the UAE fulfilment centre will cover more than 60 football fields
Same-day shipment through Twelve noon Transportation, an in-house express delivery service
NoonPay, a secure and innovative payment gateway
Twelve noon's CEO, Fodhil Benturquia, stated that a commitment to customer-centric service and innovative innovation would be key to Noon's success. "The customer is the function of our being, and we are here to win their hearts and their trust." He added: "Our client experience will be owned by modern innovation that will power everything from item discovery to acquire and delivery."
He said that Noon, through its mobile app and noon.com site, will be an end-to-end ecommerce merchant. "We wish to be the partner of choice for sellers, whether they're big or small. We invite them to be part of our ecosystem, working together to alter the online shopping landscape for the Middle East client."
"Our team not just features remarkable backgrounds, but likewise with an intense enthusiasm to alter the method things are done," he added.
Noon's group has a wealth of ecommerce experience made at sector leaders consisting of Amazon, Apple, PayPal, eBay, Google, Flipkart and others.
