Faraz Khalid has been appointed CEO of Noon, the soon to be launched $1 billion e-commerce joint venture founded by Mohamed Alabbar.
Khalid, the former co-founder and managing director of fashion online retailer Namshi, launch Noon later this year.
With proven experience and hands-on knowledge in building, launching and scaling successful e-commerce enterprises in the region, Mohamed Alabbar said Faraz will lead a team of dedicated professionals in driving the operations of Noon, which is in the final stages of its launch preparation.
“We are on track to launch Noon this year with the final work on the fulfilment infrastructure and payment systems being completed,” Alabbar said.
“Several of the region’s leading brand owners and suppliers have come on board, underlining our local strength.
“Faraz has built a successful e-commerce business in the region, and brings the right domain experience and market knowledge to his role as Noon’s Chief Executive Officer. We are confident that along with the team at Noon, Faraz will deliver an e-commerce platform like no other in the region.”
At Namshi, Faraz launched and built the region’s largest fashion catalogue with over 700 international brands. He said Noon presents the opportunity to create a dynamic e-commerce platform for, by and in the region.
“With our local market knowledge and presence, and our focus on product authenticity, supplier value creation, superior logistics, professional service and competitive pricing, we aim to bring a transformational e-commerce experience to the Middle East,” Faraz said.
Noon is a $1 billion joint venture between Saudi Arabia’s Public Investment Fund and a group of prominent Gulf investors.
With a large assortment of original products at launch, customers will be able to choose from across fashion, beauty, fitness, sports, technology, games and many more.
Every product segment has been carefully curated to fulfil the needs and aspirations of the region’s customers, especially its tech-savvy young population.
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