Middle Eastern digital platform, noon.com, has acquired regional fashion shopping platform Namshi. Namshi will be a part of noon’s digital ecosystem.
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The acquisition of Namshi will expand noon’s digital ecosystem of products and services to include more fashion and lifestyle offerings for the region’s consumers. Noon will continue to support Namshi’s growth as an independent entity within the company.
“Namshi is an early pioneer of e-commerce in the region, having launched twelve years ago when regional e-commerce was in its infancy. Thanks to continued growth under Emaar over the past 5 years, it has cemented its position as a leading regional e-commerce platform,” Hisham Zarka, CTO of the noon Group and co-founder of Namshi said. “We’re very excited to support Namshi’s next phase of success by welcoming them into the Noon ecosystem.”
“As we embark on a new adventure together, it feels like a homecoming for many of us who have a special place in our hearts for Namshi,” says Zarka. “We know that both Noon and Namshi have a long way to go, but that just means that the opportunity ahead remains immense. We are grateful to wake up each day to work on interesting challenges with a great team in a dynamic market, and we hope to make the most of this opportunity to create opportunities for others.”
“This merger will enable Namshi to make deep and long-term investments,” Zarka continued, “and in the months and years to come, our customers and partners can look forward to better assortment, pricing, and service as these investments are realized.”
Namshi will remain a separate entity, able to leverage noon’s extensive logistics and fulfillment networks, fleet, and e-commerce expertise as needed.
“This acquisition is a great opportunity for both noon and Namshi,” said Dhruv Paul, group general counsel of the noon Group. “It allows us to reach out to new audiences while offering them unique products from an incredible brand with world-class service, powered by noon.”
The acquisition of Namshi fits in with Noon’s strategy of becoming the Middle East’s digital champion and expanding an ecosystem of products and services aimed at serving and supporting the people of the region. By acquiring Namshi, Noon will be able to contribute to the continuous growth of the Middle East digital commerce industry, boosting the local digital economy and fostering the rise of local companies and talent.
