Emirates’ NAMSHI to establish warehouse in Saudi Arabia

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Emirates’ online ecommerce platform Namshi plans to establish a new warehouse unit in the Kingdom of Saudi Arabia as it recorded 50 percent revenue coming from the Kingdom. The parent company of Namshi is Emaar Malls. Emaar Malls is the retail unit of Dubai Emaar Properties.

Emaar Malls recorded a 24.8 percent revenue slump last year to $960 million, however, Namshi’s sales surged 28 percent to DH1.316 billion during the same period. The online platform was incorporated in 2011 and the platform sells over 800 brands in countries such as the Kingdom of Saudi Arabia, Bahrain, Oman, the Emirates and Oman.

Emaar Malls has acquired a 51 percent stake in Namshi in 2017 for $151 million. While the company acquired the remaining stake of 49 percent in 2019 from Germany’s Rocket Internet. Namshi is expanding its physical presence in the Kingdom in order to capture the marketplace and bolster its position.

Hadi Badri, chairman of Namshi, told the media, “Namshi’s business strategy is Saudi-first. The Kingdom is our key market, and we have a strong and improving market share and customer loyalty. The Saudi e-commerce market is attractive and local consumers are trend setters.”

Mr Hadi Badri said that Namshi is looking to bolster its presence in the Kingdom by offering consumers the most in-demand and latest products in fashion, beauty and gifts from local and international brands and deliver a seamless customer experience. Namshi seeks to become one of the best ecommerce platforms in Asia.