Noon, the e-commerce venture operating in the UAE and Saudi Arabia, announced its expansion into Egypt on February 19.
The digital marketplace, brought to life by entrepreneur Mohamed Alabbar in a joint venture with Saudi Arabia’s Public Investment Fund and a group of prominent Gulf investors with an initial capital outlay of $1bn, has made Egypt its third regional market.
In a statement, Noon said it promises to bring customers in Egypt more choice, affordability and convenience across a wide range of products including electronics, fashion, beauty, baby, home and kitchen, as well as free, fast delivery and free returns.
It added that customers in Egypt can order from the beta version of Noon.com.
Noon Egypt is based in Smart Village, Cairo’s technology and innovation led business district, and the team on the ground is currently in the testing phases prior to the official launch.
The e-commerce platform also has a fully operational customer fulfilment centre in Greater Cairo’s Abu Rawash area, with plans to include five additional centres.
“E-commerce is still relatively new in Egypt, and Noon has the opportunity to help shape a digital marketplace perfect for the country with this beta launch. We’re so excited to start building strong relationships with the local retail community and customers, supporting Egypt’s growth and entry into e-commerce,” said Alabbar, founder of Noon.
He said a vast amount of Egypt’s retailers have zero or limited online presence, adding that Noon will also be looking to recruit Egyptian talent to join the local team.
This edited article first appeared in Arabian Business