Noon gets in position for Amazon fight with new CEO
Noon, the Middle East’s soon to be launched e-commerce platform, founded by Mohamed Alabbar, has announced the appointment of Faraz Khalid as its Chief Executive Officer.
Faraz is the co-founder and former managing director of Namshi, the Middle East’s leading fashion online retailer.
With proven experience and hands-on knowledge in building, launching and scaling successful e-commerce enterprises in the region, Faraz will lead a team of dedicated professionals in driving the operations of Noon as it goes up against Amazon-SOUQ.
Alabbar had tried to block the Amazon acquisition of SOUQ.com earlier this year, but the merger was announced regardless and will see the largest e-commerce company in the world establish a strong foothold in the Middle East.
Faraz is mandated to bring Noon to market by establishing long-term strategic partnerships, enhancing Noon’s infrastructure capabilities especially in Saudi Arabia, and building a robust technology platform that enables a world class customer experience.
Mohamed Alabbar, founder of Noon, said: “We are on track to launch Noon this year with the final work on the fulfilment infrastructure and payment systems being completed. Several of the region’s leading brand owners and suppliers have come on board, underlining our local strength.
Faraz has built a successful e-commerce business in the region, and brings the right domain experience and market knowledge to his role as Noon’s Chief Executive Officer. We are confident that along with the team at Noon, Faraz will deliver an e-commerce platform like no other in the region.”
With an MBA from The Wharton School, Faraz Khalid played an instrumental role in the success of Namshi, which was launched in 2012, and built the region’s largest fashion catalog with over 700 international brands.
He said: “Noon presents the opportunity to create a dynamic e-commerce platform for, by and in the region. With our local market knowledge and presence, and our focus on product authenticity, supplier value creation, superior logistics, professional service and competitive pricing, we aim to bring a transformational e-commerce experience to the Middle East. I am honoured to take up the responsibility and to work with a dedicated team of professionals who share a common passion for creating a truly industry-defining online platform.”
Noon is a US$1 billion joint venture between Saudi Arabia’s Public Investment Fund and a group of prominent Gulf investors. With the largest assortment of original products at launch, customers can choose from across fashion, beauty, fitness, sports, technology, games and many more.
With its state-of-the-art fulfilment centre, dedicated payment gateways and logistics, the e-commerce platform will also offer innovative experiences that surprise and delight special groups such as book lovers, adventurers and new parents. Every product segment has been carefully curated to fulfil the needs and aspirations of the region’s customers, especially its tech-savvy young population.