Company expecting 25% growth this year after 37% jump last year
Dubai: Eros Group, the UAE-based distributor of consumer electronic brands such as Samsung, Hitachi, BenQ and Cisco, is looking to increase the number of stores to 45 by the end of 2015.
The group currently has 28 outlets in the UAE. There are plans to add seven more stores in upcoming malls such as Mushrif Mall and in other emirates -- Abu Dhabi and Al Ain -- bringing the number to 35 shops by the end of this year.
"With a number of new malls coming up we're actively looking at those malls as destinations for our own stores," said CEO Deepak Babani.
An additional 10 shops will be added around the GCC.
"Currently our stores are in the UAE. We have offices in the GCC, but we're looking at opening shops in the area as well. Qatar is on top of our list, followed by Oman, then Bahrain," said Babani.
The company enjoyed continued growth even during the downturn. During 2009, it grew by 15 per cent. Last year this growth increased to 37 per cent. This year they are expecting growth to slow to 25 per cent.
Product trend
According to Babani, the main products driving their sales are the flat-screen panels such as LCDs and LEDs and smart phones. "The trend is changing from LCD to LED as consumers are looking for better technology, better quality products and picture quality. Last year the ratio for LCDs to LEDs was 90 to 10 per cent. Currently it's 70 to 30 per cent and next we're expecting it to be 40 to 60 per cent," said Babani. According to him, smart phones will soon take up 50 per cent of the mobile market.
As part of its expansion plan, Eros Group also announced on Wednesday the addition of Sonos, a developer of multi-room music systems to its brand portfolio.
Until now, Sonos has been available to consumers in the region through distribution channels specialising in custom installations and system integrators.
© Gulf News 2011
