Noon.com has recently signed a partnership agreement with United Electronics Company (eXtra), Saudi electronics giant to be the online platform’s exclusive partner for a range of consumer electronics and home appliance items.
According to reports, the agreement will entail a collaboration between the two firms on commercial, marketing and supply chain initiatives of electronic products such as Samsung, LG, Sony, Braun, Kenwood and Moulinex, among others.
The strategic agreement positions eXtra and Noon as key partners in the fast-growing e-commerce market in the region.
The $1 billion e-commerce platform officially began its operations in October this year. It aims to be an Arabic-first offering by partnering with market leaders, small and medium enterprises, helping them gain a greater share of the e-commerce market in the region.
Noon founder Mohamed Alabbar said that the partnership with eXtra is consistent with the company’s vision of making the platform for the region’s retailers to come together on a digital marketplace. “We believe this partnership will improve Noon’s value proposition to its customers in Saudi Arabia and the UAE,” he said. “Valuable and strategic partnerships with leading retailers such as eXtra enables Noon’s continued growth.”
Abdullah Al Fozan, Chairman and Founder of eXtra, stressed on the importance of driving the Kingdom’s economic growth led by Saudi Vision 2030. “This partnership will make a positive impact on the market growth, including the creating of new job opportunities for the youth in the Kingdom,” he added.
Noon is headquartered in Riyadh, and has already put in place a dedicated distribution hub, distribution channels and a secure payment gateway for serving Saudi customers. It also has a dedicated delivery fleet in Saudi Arabia, with professionals who know the market, and also offers flexible payment solutions.
Mohamed Galal, CEO, eXtra added that the vision of eXtra’s partnership with Noon is to deliver customer flexibility, enabling them to buy from anywhere, at any time, delivered at any place, or picked from 43 stores in 26 cities, offering various payment option – Saddad, credit card, installment, cash on delivery, and supported with eXtra’s lowest price guarantee, and extensive after sale services.