Noon inks agreement with eBay
The deal will see US e-commerce giant’s products listed on Noon in UAE and Saudi Arabia
Noon, the e-commerce venture of Dubai billionaire Mohammad Al Abbar and Saudi Arabia’s Public Investment Fund (PIF), has signed an agreement with internet giant eBay to carry products from the US site on its platform.
The company says it will fulfil all eBay orders made on Noon. Backed heavily by Saudi Arabia’s Public Investment Fund and a group of prominent Gulf investors, including Emaar’s Alabbar and Kuwait’s M.H. Alshaya & Co, Noon says eBay products will be available from the second half of 2018 in the UAE and Saudi Arabia.
Refund option
The statement adds that eBay products purchased via Noon and shipped from overseas can also be returned to Noon with a full refund option. Noon and eBay have also agreed to explore joint opportunities in marketing and know-how to “leverage the strong growth of online shopping in the region.”
There is no mention of any financial component to the deal.
About the deal, Alabbar said: “Noon is connecting the region with the global e-commerce market through our partnership with eBay. With this, we are offering our customers access to products that are not otherwise readily available in the region. As a brand from that is from the region, we listen to our customers and tailor the online retail experience to suit their needs. Our partnership with eBay opens a whole new world of shopping experience.”
He said the partnership would also allow Noon to stay on top of the latest trends and consumer preferences in e-commerce.
In December 2017, rival website Souq, which is owned by e-commerce titan Amazon, added over one million products from its parent company’s US stores to its local inventory.
The Amazon Global Store allows customers in the region to tap in to a fraction of Amazon’s enormous network and product selection.
Noon, announced in November 2016, was billed as a $1 billion (Dh3.67 billion) ecommerce platform destined to compete with local player Souq.