• Initial offering will launch a seamless Buy Now Pay Later (BNPL) experience online and in-store at a number of Cenomi Retail brands.
  • Long-term partnership will extend across additional Cenomi Retail brands.

Riyadh, Saudi Arabia: Cenomi Retail, Saudi Arabia’s leading brand partner of choice, has announced a long-term strategic partnership with Tabby, the MENA’s leading shopping and financial services app. The partnership is a first of its kind collaboration between a BNPL player and an omnichannel retailer in Saudi Arabia. It is an important step in bringing innovative payment solutions to serve consumers in the Kingdom.

Currently, Tabby customers can split their payments into four with no additional fees when shopping from 10 of Cenomi Retail’s brands online, including Decathlon, FNAC and Alo Yoga. The payment method is also enabled on Apple premium reseller Aleph’s online sites as well as in all in-store locations throughout the Kingdom.

Dr Gunther Helm, CEO, Cenomi Retail: “We are delighted to partner with Tabby and bring this service to our consumers. The BNPL innovation has shown to increase average order value by over 30% and helps promote customer loyalty, with industry averages suggesting a repeat purchase rate of more than 40%. As we roll out this relationship across our portfolio, we expect to continue to add value to our customer proposition.

“The BNPL market in Saudi Arabia is expected to see double digit growth in the coming years. With Tabby being a leader in its field, Cenomi can offer consumers access to a strong, seamless platform that provides them greater choice and smarter financial management. It is testament to our focus on digital transformation and enhancing customer experience across our ecosystem and our ambition to become the number one omnichannel platform in the region.”

Hosam Arab, Chief Executive Officer and Co-founder at Tabby, said: " We are proud to partner with Cenomi, the leading franchise retailer in Saudi Arabia, as we both share a common vision of using technology to empower shopper experiences. Now millions of Tabby and Cenomi customers can pay over time without worrying about additional fees whether they’re looking for a new phone or upgrading their wardrobes.”.

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About Cenomi Retail:

Cenomi Retail, formed as Fawaz A. Alhokair & Co in 1990 by Fawaz, Salman and Abdulmajeed Alhokair. The company has since become the leading franchise retailer in the Saudi Arabia and the only listed business of its type in the Middle East. Since the opening of its first store in 1991, Cenomi Retail has grown considerably and now trades in over 1,300 stores across 100 shopping malls in 11 countries, with a retail platform operating on a total Gross Leasable Area GLA of more than 400,000 square meters. All of this is managed by a workforce numbering more than 10,000. Cenomi Retail currently represents over 65 brands, spanning womenswear, menswear, kids and baby, department stores, shoes and accessories, and cosmetics, in addition to operating a series of restaurants and coffee shops. For more information, please visit www.cenomiretail.com

About Tabby

Tabby creates financial freedom in the way people shop, earn and save by reshaping their relationship with money. Millions of active users choose Tabby to stay in control of their spending and make the most out of their money.

Tens of thousands of global brands and small businesses, including SHEIN, Amazon, Adidas, IKEA, H&M, Samsung and noon use Tabby’s technology to accelerate growth and gain loyal customers by offering flexible payments online and in stores. Tabby is active in Saudi Arabia, UAE and Kuwait and is valued at $660 million in its latest round of funding from Sequoia Capital India, STV, PayPal Ventures, Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst.