JEDDAH: Jeddah-based Tamer Group has signed an agreement to acquire a majority stake in Dubai-based Mumzworld, the Middle East’s largest mother, baby and child e-commerce platform, it was announced on Monday.
Mumzworld was co-founded in 2011 by CEO Mona Ataya and has grown tenfold in the last five years to 2.5 million customers. The largest website of its kind in the region, it offers 250,000 products aimed at mothers and children. The value of the deal with Tamer Group was not disclosed.
“We are extremely excited to announce our acquisition of Mumzworld. The deal coincides with our 100 year anniversary — operating as the largest health care distributor in the region, and major player in fast moving consumer goods, logistics and beauty care. This is a further, hugely significant, milestone for Tamer Group,” Ayman Tamer, chairman, said in a press statement.
“We believe that e-commerce is the future for the Gulf Cooperation Council (region). The world has shifted to a customer-centric model with consumer behaviors, trends and data having become the new gold. Players in the space need to understand their customers, and adapt to their changing needs. Mumzworld will be a steppingstone toward ‘Tamer Digital’ — a very ambitious vertical we intend to build to serve the nation, working toward delivering on Saudi’s Vision 2030.”
Mumzworld plans to use the new resources to fund its continued expansion into new regional markets and compete with larger companies such as Amazon and Noon. “Tamer Group are progressive thinkers and our values and ambitions are aligned. We are intent on digitizing the regional ecosystem, particularly in Saudi Arabia. With Tamer Group’s scale, size, reputation and regional knowhow — our combined complementary entity will be transformative for the region,” Ataya said.
According to a statement by Mumzworld, the mother, children and baby goods market in the region is worth over $10 billion, and the estimated growth of the segment is 39 percent per year. Ataya said that the biggest markets for Mumzworld are currently the UAE and Saudi Arabia.
Founded in 1922, Tamer Group is one of the largest regional health care distributors, with an annual turnover of SR9.2 billion ($2.45 billion) and a compound annual growth rate of around 11 percent.
