Majid Al Futtaim group picks up stake in Saudi e-tailer
This will pave way for orders to be delivered via Carrefour outlets in kingdom
Dubai
The Majid Al Futtaim group is making an investment in Wadi, the online portal that operates Wadi Grocery in Saudi Arabia. This is part of a $30 million funding round that will help set up the delivery mechanism for all Carrefour stores within the kingdom.
Carrefour will now become Wadi Grocery’s long-term strategic partner for supplying food and non-food groceries. Customers will have access to over 12,000 high-quality products and to be delivered within a two-hour window. “We believe that the two key drivers for success in the e-grocery market are a wide, price-competitive assortment and fast, reliable deliver,” said Ankit Wadhwa, Managing Director of Wadi.