ElGrocer’s online presence in the country will go hand in hand with Etisalat UAE’s existing marketplace services under the brand ‘Smiles’ including online food delivery, lifestyle offers and the ability to earn and redeem points at more than 7,000 outlets across the UAE.
According to WAM report today, UAE telecom Etisalat Group has wholly acquired online grocery app elGrocer DMCC to support the telecom’s digital ambitions.
The agreement between Etisalat, formally Emirates Telecommunications Group Company, and elGrocer Ltd will see the telecom acquire 100 percent of elGrocer DMCC.
ElGrocer’s online presence in the country will complement Etisalat UAE’s existing marketplace services under the brand ‘Smiles’ including online food delivery, lifestyle offers and the ability to earn and redeem points at more than 7,000 outlets across the UAE.
“Online shopping has redefined retail in the last decade with an increasing number of consumers moving to online transactions. Considering Etisalat’s leadership role in the acceleration of UAE’s digital transformation, we have been continuously working on new, innovative digital services and this acquisition is in line with our strategy to empower consumers, enhance engagement through our digital marketplace platform and drive diversification of our business,” Khaled ElKhouly, chief consumer officer of Etisalat UAE.
With the UAE ranked as one of the highest globally in terms of smart device penetration and rated as one of the most advanced countries for online shopping and eCommerce market in MENA, this acquisition will contribute to the growing digital economy in the country.
Founded in 2015, elGrocer is an online marketplace for groceries operating in all seven emirates of the UAE. It brings together major retailers and specialty stores on a single platform with more than 500 outlets and 120,000 products listed.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
