Noon, the Saudi-Emirati ecommerce company has quietly acquired Sivvi, a Dubai-based Namshi-like fashion ecommerce platform, MENAbytes has learned. The acquisition was made earlier this year. We reached out to Noon for confirmation but they’ve declined to confirm or deny the development, saying that they do not have any comments at the moment.
Sivvi was founded by Rashid Alabbar, son of Mohamed Alabbar, the Emirati real-estate businessman who happens to be the founder of Noon, in early 2014, as a portfolio company of Alabbar Enterprises, a family-owned business that runs different retails and F&B brands in the region. Noon, on the other hand, is backed by different regional investors including Saudi’s Public Investment Fund.