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Our Vision
To be the most loved lifestyle platform by providing the best stakeholder experience.
Our Mission
To exceed our stakeholder expectations by providing a seam-less user-centric experience enabled by continuous technology innovation.
Our Values
- Trust to ensure its partners always get their products and payments on time, every time.
- Innovation to nurture an entrepreneurial spirit in the organization with a resultsoriented mindset.
- Passion to commit to exceeding partner expectations by pursuing their happiness and achieving their ambitions.
- Respect to treat its employees, customers and partners with courtesy, consideration and dignity.
- Sustainability to create long-term partner value by taking into consideration social, economic and environmental aspects.
- Excellence to exceed what it achieved yesterday, and to deliver a world-class user experience across its various services.
Strategic Themes and Objectives
Following its rapid expansion from 2019 to 2021, the Group identified primary strategic themes around which its future growth ambitions were outlined:
- Strengthening the Group’s operations in existing geographies by winning market share and onboarding new customers and partners
- Strengthening the presence of every subsidiary across the Kingdom
- Expanding the business into supporting verticals and entering new geographies for future growth
- Launching every available service in new cities both in the Kingdom and the GCC region
- Differentiating the Group’s services and offerings through continuous innovation. The strategic themes have cascaded into strategic objectives across the Group’s main business verticals.
- Drive operational excellence and customer experience through continuous investment in training, processes and technology
- Expanding the Group’s regional footprint by leveraging its competitive value proposition
- Spearheading a Kingdom-wide transformation to a digital lifestyle by creating innovative, high-tech food delivery, online shopping, cloud kitchen and last-mile delivery solutions
Our Holdings
Over the past few years, Jahez established and acquired a number of fully owned or partially owned subsidiaries that have shaped the Company’s ambitious diversification trajectory, each subsidiary fulfilling a unique business objective.
Subsidiaries Overview
Joint Preparation Company for Meals
60%
Limited liability
company
Country of
operation
Country of
incorporation
PIK Option Trading Company
100%
A single shareholder
limited liability company
Country of
operation
Country of
incorporation
Supportive Solutions Company for Logistic Services
100%
A single shareholder
limited liability company
Country of
operation
Country of
incorporation
The Red Color Company (Red Color)
100%
A single shareholder
limited liability company
Country of
operation
Country of
incorporation
Jahez International Company
100%
Limited liability
company
Country of
operation
Country of
incorporation
Jahez International Company for Wholesales and Retail Trading
100%
A Single Shareholder
Limited Liability Company
Country of
operation
Country of
incorporation
BLU Store Company
51%
A Single Shareholder
Limited Liability Company
Country of
operation
Country of
incorporation
Marn Business Information Technology Company
100%
Limited Liability
Company
Country of
operation
Country of
incorporation
Jahez for Information Technology
100%
Limited Liability
Company
Country of
operation
Country of
incorporation
Jahez International Company for Information Systems Technology
100%
Limited Liability
Company
Country of
operation
Country of
incorporation
Sol for trading LLC
35%
Limited Liability
Company
Country of
operation
Country of
incorporation
Online Food Delivery
Jahez, available as a mobile app, is the Company’s primary online platform that links the Group’s key stakeholder groups, namely merchants, customers and delivery partners, in a one-shop-stop solution that meets the logistical needs of all three.
During the reporting period, Jahez served 37.9K branches, from high-end and fast-food restaurants and supermarkets to home bakers and corner shops. Post-IPO, Jahez continued to avail opportunities for merchants to expand their footprint in the market affordably, particularly in contrast to traditional expansion methods.
Jahez offers its plethora of services to customers across the Kingdom, providing them access to a diverse and ever-widening range of merchants. The dining options continue to increase and, in 2023, the platform covered 100 cities reaching 95% of the total population. By the end of 2023, the number of active users increased to 3.5 million user (25% increase YoY) as smartphone penetration and delivery culture continued to grow on the surge brought on by the pandemic just three years prior. From 2016 to December 2023, over 264 million orders have been completed on Jahez platform.
As of December 2023, the group served over 60K delivery partners, providing them the opportunity to earn through Jahez platform that links them to a fast-growing network of merchants.
Customers can choose from a list of available merchants or use group suggestions, pay using a number of digital payment options or cash-on-delivery depending on their preference. Once a delivery representative is assigned to a specific order, the customer can track the progress of their orders on the app itself.
The platform is built on state-of-the-art technology, delivering a seamless end-to-end experience for merchants, customers and delivery partners. New iterations of the app boast boosted automation, giving rise to increased efficiency of order management which is carried out in a centralized fashion utilizing as few resources as possible allowing further expansion.
The app now includes an Explore tab with links to PIK and Blu platforms, among other features such as targeted campaigns from restaurants. The Explore tab also showcases new meals and offers available to customers in a bid to keep them on the platform and also to promote new offers.
Revenue streams of the business are primarily through commission income, advertisement fees, e-payment fees, and delivery fees.
Quick Commerce
PIK was the Group’s first stop in its diversification drive. Tapping into increased demand for online delivery services outside the food and beverages service, the Group expanded its delivery service beyond the restaurant segment, platforming pharmacies and local retail merchants with deliveries routed directly from them.
PIK is a quick or q-commerce platform that connects customers to merchants located within a 100-kilometre radius in cities and suburbs alike.
Products sold on PIK range from clothing, cosmetics, footwear and electronics, among other things, representing some of the best-known local and international brands, with deliveries made within two to three hours.
From order selection and offering to payment options and last-mile delivery, PIK platform covers the entirety of the digital shopping process, with a searchable and filterable assortment of product and merchant categories, e-payment services, live order-tracking, direct customer support, a return policy and other features.
Merchants also benefit from the app’s high-tech features which allow them to observe and identify customer trends and behavior patterns. They may also utilize the marketing opportunities provided by the app and increase brand awareness.
Both Jahez and PIK share delivery partners and non-food orders are typically scheduled outside food rush hours.
The platform generates revenue through the following channels:
- Per-order commissions charged to merchants every time a customer places an order with the merchant through PIK platform;
- Fees charged in connection with advertisement placements such as promotions and premium listings on PIK platform;
- e-payment fees charged to merchants in case of payment by credit card or digital cards;
- Delivery fees paid by customers.
Cloud Kitchen & Shelving Solutions
Co Limited Company, which Group owns a 60% stake in since 2020, is centered around end-to-end commercial kitchens available for restaurants that deliver food via digital platforms as well as cloud shelving or dark store facilities for our e-commerce platforms including those owned by the Group.
Co equips commercial kitchen spaces and leases them to restaurants that only serve customers who deliver their food online, with the exception of a few locations that also offer pick-up options. As of 2023, the business also provides cloud-shelving services to merchant partners, mainly focused on chocolates and cold beverages, to accelerate their reach to clients.
Co provides equipment to restaurants in the form of cooking and meal preparation facilities and other resources saving them considerable overhead costs including rent and utilities costs as well as valuable time, resources they can redirect to more productive endeavors facilitating growth. Though these restaurants forego dine-in services, the savings made by investing in a cloud kitchen service are demonstrably worth the switch and also lead to a significant rise in the volume of orders.
The shelving arm of the business can be used by any merchant partner of PIK or Blu that lacks the physical space to store their goods. At present, Co is one of a handful of players that offer both cloud kitchen and dark store facilities at once.
Market reports indicate that numerous restaurants are making the switch, taking into account the opportunity cost of running a dine-in restaurant complete with its own kitchen and equipment and focusing instead on delivering a value-for-money meal that customers can enjoy in the comfort of their home. Research also shows that orders coming via online platforms lead to shorter delivery times, in turn leading to more satisfied customers.
As of December 2023, Co hosts 200+ brands in six cities. The subsidiary’s revenue model involves a variable commission agreement entered into with each restaurant partner. Co develops new cloud kitchens by leasing locations under long-term lease agreements with terms ranging from three to 10 years. The subsidiary’s in-house project team together with various contractors oversee the implementation of new cloud kitchen projects in line with a set of initial plans and specifications that can be malleable depending on the circumstances, allowing Co Kitchens a more flexible design process and cost and time control. Development typically takes three to five months and includes designing kitchen spaces, preparing gas, ventilation and electricity connections, and installing the required furniture and equipment.
Logistics
Logi, launched in Q3 2021, serves as the Group’s wholly owned logistics subsidiary and a market enabler for the Kingdom’s bustling e-commerce and delivery industry. On track to being the market leader in urban last-mile delivery, Logi provides a nearly 14,000-strong fleet of Saudi freelancers and Non-Saudi permanent delivery partners first to Jahez group companies and then to the wider e-commerce and postal logistics sectors at competitive rates.
Logi is a centralized platform that supports the Group with all of its logistical and operational needs, synergizing the Group’s operations. The subsidiary bridges the gap between customers and merchants.
Logi’s services are available round the clock with short delivery times, multiple pickups and delivery tracking as its unique selling point, for both food deliveries and business-to-business deliveries. Low operational costs, scalability and consistently high quality are among its other salient features.
The subsidiary’s revenue streams include delivery fees, pre-paid distance-based pricing for e-commerce merchants, and annual and monthly subscription fees.
Other revenue streams include branding, package delivery, manpower renting.
In Q3 2022, Jahez Group established Blu Store, a joint-venture with Al Hilal Club with the Group owning 51% of the business. Blu is a platform specializing in selling and marketing sports-related products and services representing different leading brands. The Blu Store platform was launched for customers to purchase products that are delivered to their doorsteps within hours in a hybrid of on-demand and e-commerce models (with worldwide delivery).
Al Hilal Club Investment Co holds the remaining 49% stake in the SAR 500,000 venture, with Jahez financing SAR 255,000 of the share capital.
Blu was the first interactive app of its kind in the region and was marketed as the Kingdom’s home of all things sports, providing goods, services and news to both sports professionals and amateurs as well as fans. Customers can also purchase tickets to prominent sporting events through the app. In 2023, the app expanded its operations to reach and deliver products for more than 70 countries world wide.
Business Information Technology
In January 2023, the Group completed the acquisition of Marn Business Information Technology, a leading business digital solutions provider, offering multiple modern technical services that support merchants in their growth.
This acquisition further enhanced the Group’s offerings, leading to improved services to various stakeholders, and helped merchants build their own unique ecosystems by developing systems through various digital solutions such as point of sale systems that work in conjunction with different service providers and partnerships.
The total value of the transaction amounted to SAR 60 million, made with the aim to expand the Group’s business base through acquisitions to capitalize on the growing opportunities in the industry.
Investments
The Group’s investment arm, Red Color was established in Q1 2021 with a view to delivering the best value to all stakeholders, targeting investments that would maximize the Group’s corporate value. This would be achieved through strategic partnerships that add value and align with the existing solutions offered, financial returns generating future gains or minimizing costs, and the acceleration of entry into new verticals.
Red Color pursues inorganic growth opportunities through investments in, or acquisitions of, emerging startups and technologies that we see as complementary to our business. The company invests in technology opportunities and in industries that already employ the Group’s existing assets of customers, merchants and delivery partners to leverage its position. These industries include automated marketing, supply chain and fintech solutions, direct-to-consumer services and lifestyle improvement services.
Red Color seeks to boost returns for the Group through investments that contribute to growth, primarily by acquiring new customers, providing entry into new markets and increasing community engagement. Acquisitions and corporate venture capital (CVC) investments are sought in five major sectors: logistics, e-commerce, merchants ecosystem, FinTech, and AdTech.
The subsidiary aims to reduce costs for the Group by way of operational cost savings, time saving and accelerating expansion using less capital.
Sol is a B2B food and beverage supplier, focusing on supply chain management for hotels, restaurants, and cafes (HORECA). Partially acquired by the Group in 2023, the Company leverages technology to streamline operations and improve customer service.
Its core operations involve trading and operations, which sees Sol team negotiate deals with suppliers, manage inventory in its own warehouse, and deliver orders to customers using its own fleet of trucks. Sol serves various suppliers across different categories, including dry, frozen, chilled, fresh, snacks, and drinks.
Sol’s partnership with Jahez seeks to leverage Jahez's extensive data and customer base to expand the Company’s own market reach. Jahez, with its significant sales volume, brings valuable data and resources to the partnership. Sol plans to target Jahez's restaurant clients for food supplies and explore opportunities in the grocery market.
Venturing Overseas
Subsidiaries | Ownership percentage as at 31 December 2023 |
Country of operation |
Country of incorporation |
Legal entity |
Jahez International Company | 100% | Kingdom of Bahrain | Kingdom of Bahrain | A Limited Liability Company |
Jahez International Company for Wholesales and Retail Trading | 100% | Kuwait | Kuwait | A Single Shareholder Limited Liability Company |
Jahez for Information Technology |
100% | Egypt | Egypt | A Limited Liability Company |
Jahez International Company for Information Systems Technology | 100% | Qatar | Qatar | A Limited Liability Company |
Built on its pre-IPO successes, the Group made forays into the regional market, establishing its presence in Bahrain and Kuwait as part of its expansion strategy to enhance Jahez’s footprint in Gulf Cooperation Council (GCC) countries.
On 14 December 2021, Jahez established its legal entity in the Kingdom of Bahrain as a limited liability company named Jahez International Company W.L.L. with a capital of 50,000 Bahraini dinars. This Company is engaged in retail sales via the internet.
Commercial operations in Bahrain began in June 2022 penetrating the market with a distinctive delivery experience. Towards the end of 2022, Jahez officially created its legal entity in Kuwait and began team implementation, with a view to disrupt the online delivery service market that was already showing promise. The operation was launched as a pilot in January 2023 with an approach similar to that of Bahrain operation, with a clear path to increased market share.
Geographic Spread
With a large and diverse distribution of merchant partners, the Group continues to reach a growing number of customers across the Kingdom.
Central Region
- Al Badayea
- Al Kharj
- Al Bukayriyah
- Al Dawadmi
- Al Quway'iyah
- Al Hawtah
- Al Majma'ah
- Al Muzahmiya
- Al Rass
- Az Zulfi
- Buraidah
- Riyadh
- Shaqra
- Unayzah
- Wadi aldawaser
- Afif
- Al Aflaj
- Al Thumama
- Al Ghat
- Al Hait
- Naajan
- Riyadh Al Khabra
- Sager
- Uqlat Al Suqur
Eastern Region
- Al Hofuf
- Al Jubail
- Al Khafji
- Al Qatif
- Anak
- Dammam
- Dhahran
- Hafar Al Batin
- Khobar
- Ras tanura
- Saihat
- Al Nouria
- Bqaiq
- Qariat alolya
Western Region
- Jeddah
- Makkah
- Madinah
- Rabigh
- Taif
- Yanbu
- Al laith
- Al Ula
- Al Qunfudhah
- Khaibar
- Ranyah
- Turba
- Umluj
Northern Region
- Al Qurayyat
- Arar
- Hail
- Skaka
- Tabuk
- Al Wajh
- Baqa
- Dawmat aljandal
- Duba
- Rafha
- Tabarjal
- Taima
- Turaif
Southern Region
- Abha
- Abo Aresh
- Al Bahah
- Beshah
- Jizan
- Khamis Mushait
- Mahail Aser
- Najran
- Sabya
- Sarat ubaidah
- Al Aqiq
- Al Ardah
- Al Darb
- Al Majarda
- Al Makhwab
- Al Mdanab
- Al Namas
- Al Qura
- Al Shqaiq
- Alwadiyan
- Baljurashi
- Bariq
- Dhahran South
- Habuna
- Rjal Alma
- Sabt Alalya
Gross Revenue by geography is as follows, in SAR millions:
Fiscal year 2019 |
Fiscal year 2020 |
Fiscal year 2021 |
Fiscal year 2022 |
Fiscal year
2023 |
|
KSA | 159 | 459 | 1,160 | 1,668 | 1,847 |
Non - KSA | - | - | - | 4 | 72 |