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Case Study

A Middle Eastern Unicorn: Noon

A Middle Eastern Unicorn: Noon

Established in 2016 to provide a digital marketplace for products and services built and used in the MENA region, Noon is now valued at over USD 1bn – making it one of the few ‘unicorns’ in the Arab world.

Owned in partnership by Emirati entrepreneur Mohamed Alabbar and Saudi Arabia’s Public Investment Fund, Noon quickly gained traction to become the region’s leading ecommerce platform, offering over 20 million products to customers in Saudi Arabia, UAE and Egypt.

As well as selling electronics, toys and games, and fashion and homeware, Noon also has a grocery platform which delivers everything from fresh fruits and vegetables to kitchen and household items within the UAE. And having built on the success of its online platforms, it is now one of the region’s foremost experts in fulfilment, logistics and payment services.

The ecommerce giant’s portfolio also includes NowNow, an on-demand platform that facilitates hyperlocal delivery of goods within minutes of ordering, and Noon Pay, a digital payment service that offers a secure and convenient way to send money to individuals or pay for goods online.

Its fashion arm, SIVVI, is one of the region’s fastest-growing clothing retailers, offering high-quality apparel at affordable prices. Noon added to this rapidly expanding division in 2023 with the USD 335m acquisition of Namshi, the Middle East’s leading fashion and lifestyle ecommerce platform.

Today, Noon employs around 10,000 people in the Middle East and is soon set to take on many more. In 2022, the company broke ground on what is to become the UAE’s largest fulfilment centre. The 252,000 square metre site is due to open in 2024 and will offer storage and fulfilment services to over 5,000 of the region’s small and medium-sized businesses.

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