Alabbar says Noon to focus on fashion to drive $70bn sales target

New online shopping platform will put high-street fashion at centre of its strategy when it launches later this month
Alabbar says Noon to focus on fashion to drive $70bn sales target
By Staff writer
Thu 12 Jan 2017 01:54 PM

Noon, the Middle East’s largest online shopping platform founded by Mohamed Alabbar, will use the high-street fashion segment as a central plank in its strategy to dominate the region’s fast-growing e-commerce sector.

The retail firm said in a statement that it will offer hundreds of exclusive fashion brands, five times more than its nearest competitor when it launches later this month.

Buyers will also be able to choose from more than three million products, in what will be a game-changing online retail experience for the region, it added.

The company will also provide same-day delivery through Noon Transportation, an in-house express delivery service. Payment will be conducted via NoonPay, a secure and innovative online gateway.

With an initial investment of $1 billion, Noon will launch in the UAE and Saudi markets and will soon cover the entire Middle East region.

Noon said it aims to grow online sales in the region from 2 percent of the total market ($3 billion), to 15 percent ($70 billion) within a decade.

The founder of Noon, Emaar Properties chairman Mohamed Alabbar, said: “For too long, consumers who want to buy fashion online in the Middle East have suffered from a lack of variety. The launch of Noon will change the regional online shopping experience for fashion forever.

“Fashion will be at the very heart of the Noon experience. We will offer more brands and more products than any of our competitors. We will also launch with a large private label collection that will offer unmatched value to the customer. Noon’s fashion platform will be offered with a level of customer service that has not been seen in the region before. The sheer scale of our offering will also allow us to provide our customers with prices that will be impossible to beat.”

From mass-market megabrands to discount giants, Noon  said it will offer its consumers access to a "truly unique array of brands and products".

Noon was founded last year by Alabbar, who is leading the company in a joint venture with Saudi Arabia’s Public Investment Fund and prominent GCC investors.

In total, Noon will offer 20 million products covering fashion, books, home & garden, electronics, sports & outdoor, health & beauty, personal care, toys, kids and baby products, and more.

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