Noon, the Mohamed Alabbar and Saudi Arabia’s sovereign fund Public Investment Fund (PIF) e-commerce venture appoints Faraz Khalid as chief executive officer (CEO).
Khalid joins from Middle East online fashion retailer Namshi, which he co-founded and where he served as managing director. Noon’s previous CEO Fodhil Benturqui quit in May.
Emaar Malls purchased a 51% stake in Namshi also in May for $151 million from Global Fashion Group (GFG), a start-up set up by Rocket Internet.
The region’s e-commerce market is forecast to grow to $20 billion by 2020, according to an A.T. Kearney report published in 2016.
In March, Amazon.com bought Middle Eastern online retailer Souq.com in a deal described by adviser Goldman Sachs as “the biggest-ever technology M&A transaction in the Arab world”.
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UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
Retailers in the Middle East are making strides in their multichannel offerings,
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association
Retail Abu Dhabi, the retail platform of the Department of Culture and
Gulf Marketing Group (GMG) is gearing up for a continued surge in
UAE-based Emaar Malls have announced the resignation of its CEO, Rajiv Suri
The Lumière Co, a new e-commerce platform, has launched to offer young
Nakheel Malls, the retail arm of master developer Nakheel, has launched its
Serena Marketplace, a new community shopping and service centre for the Mediterranean-themed