Al Jazeera: Middle East’s First Woman-led Transaction Between Saudi Conglomerate And Dubai-Based Retailer

(Image Source:
Menabytes
)
The Middle East’s largest online children-goods retailer Mumzworld just announced that it signed a sales and purchases agreement with Tamer Group, making it the first woman-led e-commerce transaction. Tamer Group is a large regional healthcare distributor which also provides logistics services, raking in an annual revenue of $2.5bn. The financial details of the deal between the two companies were not disclosed.
With fierce competition in the e-commerce market in Dubai, this deal will help Mumzworld to earn more resources and networks for future growth in terms of geography and product offerings. This move will also put the firm into direct competition with Amazon and Amazon’s Middle East online marketplace rival Noon.com.
“We are a business that is home-grown. So this acquisition by a strategic giant is the right DNA and the right strategic fit for us,” said co-founder and CEO Mona Ataya.
The Middle East market of mother, baby and children-goods is believed to be worth over $10 billion. The increasing online penetration will further fuel the growth of e-commerce retailers like Mumzworld, especially in the midst of the current global pandemic.
In that context, Mumzworld has raised $50 million of funding up till now, with its major markets being the UAE and Saudi Arabia.
After the agreement, Mumzworld’s founders Ataya and Leena Khalil will still be shareholders and sit on the board.
Source: Saudi group buys Dubai-based Mumzworld in woman-led deal
For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.
Also worth your time
Track your parcel here
Event Highlights
North America
Logistics & Supply Chain
Home Delivery World
Aug 31 - Sep 01, 2022 | Pennsylvania Convention Center, Philadelphia
Europe
Retail & E-Commerce
Paris Retail Week
Sep 20 - 22, 2022 | Paris Expo Porte de Versailles
Europe
Retail & E-Commerce
Savant eCommerce Copenhagen 2022
Sep 20 - 21, 2022 | Radisson Collection Royal Hotel
North America
Logistics & Supply Chain
Leaders in Logistics: North America 2022
Sep 26 - 27, 2022 | Marriott Crystal Gateway, Arlington VA
Europe
Retail & E-Commerce
eCommerce Expo UK 2022
Sep 28 - 29, 2022 | Excel London
More discoveries
Funding Roundup: Major Wins for CleverTap, Locad, ReturnLogic and Others
Aug 12, 2022
PR Newswire: Purolator Transforms Transportation Sector With Its New Sortation Facility in Toronto
Aug 12, 2022
Alcott Global Podcast: Carbon Neutrality in a Shipping Company
Aug 11, 2022
FreightWaves: FedEx to Apply Peak Season Surcharges As Early As September
Aug 11, 2022
E-Commerce Logistics Race in Latin America: Which Country Performed the Best in H1 2022?
Aug 10, 2022
The Business Times: A.P. Moller - Maersk Purchases Martin Bencher Group for US$61M
Aug 10, 2022
Funding Roundup: Bizongo, Homzmart, Vetted and Others Secured Early-Stage Deals
Aug 05, 2022
How Peak Season 2022 in Europe Might Look Like
Aug 05, 2022
TechCrunch: Shopify Invests $100 Million in a Marketing Automation Startup, Klaviyo
Aug 05, 2022
ITLN: Xpressbees Names Suraj Bangera as Senior Vice President of Cross-Border Business
Aug 04, 2022
Retail Dive: Amazon Launches Same-Day Shipping for Pacsun, GNC, SuperDry, and Diesel Customers
Aug 03, 2022
E-Commerce Logistics Race in Europe: Which Country Performed the Best in Q1 2022?
Aug 02, 2022
Supply Chain Dive: OnTrac and LaserShip Introduce Transcontinental Delivery Service to Prepare for Peak Season
Aug 02, 2022
Alcott Global Podcast: Importance of Supply Chain in Stationery Industry
Aug 01, 2022
Guest Post: 10 Ways Retailers Can Inspire Customers During Peak Season
Aug 01, 2022
Funding Roundup: Early Funding Rounds Secured by Cartona, DealCart and Others
Jul 29, 2022
Vogue: Glossier Launches into Wholesale Partnership with Sephora
Jul 29, 2022
E-Commerce Logistics Race 2022: Canada vs the United States
Jul 28, 2022
Macau Business: DHL Express Names Phil Corcoran as Australia’s Managing Director
Jul 28, 2022
Top E-Commerce Retailers in the United States 2022
Jul 27, 2022
Logistics Manager: InPost Now Has 4000 Parcel Lockers in the UK
Jul 27, 2022
Marketing Interactive: L'Oréal Appoints Kenny Ng as Regional E-Commerce Director
Jul 26, 2022
Guest Post: Why Logistics and Supply Chain Management Is Important
Jul 26, 2022
Guest Post: 7 Customer Retention Metrics That Allow You to Measure Customer Loyalty
Jul 25, 2022
Alcott Global Podcast: Revolutionizing Offshore Logistics
Jul 25, 2022