Majid Al Futtaim group picks up stake in Saudi e-tailer

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.