Noon.com is a brand name you’ve heard and are aware of but have no idea whats going with. Well, Noon has had a rough few months. They’re been “coming soon” for a while now.
— نون (@noon) November 13, 2016
After a whole range of rumours, two major acquisitions and the loss of their previous CEO and other employees, today the website announced their new CEO.
Noon has announced the appointment of Faraz Khalid as its Chief Executive Officer. Faraz is the former Co-founder and Managing Director of Namshi, the Middle East’s leading fashion online retailer Namshi. Faraz has already taken up his role at Noon.
Faraz and Namshi
Faraz launched Namshi back in 2012 and has brought it to where it is today. Namshi today holds over 700 brands and can definitely call itself a market leader in the region.
Faraz will now lead the $1 billion venture which was founded by Mohamed Alabbar. Noon is a joint venture between Saudi Arabia’s Public Investment Fund and a group of prominent Gulf investors.
When speaking about taking up the role, Faraz 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.”
Considering Amazon’s purchase of Souq.com, the online retail industry on our side of the world is about to see a major shift.