Sep 10 2012
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Al Habtoor Group unit eyes $1b in sales
Monday, Sep 10, 2012
Dubai: An UAE company is venturing into branded auto parts, which has historically been dominated by automotive majors and independent global vendors such as ACDelco.
Al Habtoor Group is creating the brand - GAP - under the umbrella of a newly formed company, Global Auto Parts. It has an eye on the booming spare parts trade that takes place out of Dubai, which according to government sources is valued at more than $10 billion annually. Growth rates in the trade have consistently been in the high double-digits.
Global Auto Parts expects to attain sales of $1 billion (Dh3.67 billion) within five years, selling the branded merchandise, according to a top official. To this end, it is building a retail network of its own — in Dubai and Sharjah to begin with — as well as through third-party parts vendors in the UAE and beyond.
The Al Habtoor Group entity will not be manufacturing the parts but has sourcing arrangements with a network of factories, the majority being from the Far East. The inventory works out to more than 16 million parts.
According to Hamer, “We will maintain an optimum stock level that will assure our buyers immediate access to the stock they want. It will be something that will be looked at constantly.”
By Manoj Nair, Associate Editor
Gulf News 2012. All rights reserved.
© Copyright Zawya. All Rights Reserved.
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