Tuesday, May 04, 2010
Gulf News
Dubai Dubai-headquartered Jupiter Electronics, better known for its Vinverth and Britelite brands, is looking to attract a younger clientele to boost sales and grab a bigger slice of the market, a top official of the company said.
In an interview with Gulf News, Sajan Joseph George, general manager, stressed that the group is focusing on launching products that appeal to the youth.
"The younger generation is the future. We have to keep on tapping them to be our future and loyal customers. Right now the younger generation contributes 10 per cent to our growth.
"This year we expect slightly more than 10 per cent with the launch of new products targeting the youth. But whatever activities we are doing right now for the younger generation, we expect to get the real benefit after a couple of years," .
Joseph said the downturn in the construction and real estate sectors and its effect on the floating population had hit the entertainment and household appliance business hard.
Jupiter's revenues in 2009 increased 43 per cent to Dh215 million compared to 52 per cent growth in 2008. This year, the company is expecting a little over 10 per cent growth in revenues in view of the decrease in population.
Jupiter Group, the parent company of Jupiter Electronics, was started in 1987 in Germany.
"When we started our business in the UAE, we were marketing third-party emergency lights like Maglite from America and AccuLux from Germany in this region. We are the one to make these products, which was unknown in this region, the top brand in the region after Sanyo," Joseph said.
After making third-party products popular here we realised that we have the capacity for brand building. Then we launched our own products - Britelite in 2000 and Vinverth in 2001," Sajan said.
Britelite torches account for more than 60 per cent of the market share in the UAE while Vinverth emergency lights occupy more than 40 per cent of the market share.
Factories
"We have got factories in China and India and export the finished goods from here to India, Pakistan, Bangladesh, Sri Lanka, Egypt and North African markets. Around 50 per cent of our products are exported and our export value last year stood at Dh107.5 million."
Jupiter currently has 20 products under its umbrella and is set to launch six new products this year.
Joseph said the company planned to focus on LED and LCD TVs this year while keeping Britelite as the flagship brand. The company is looking to India this year in view of its vast and untapped market that has been relatively unfazed by recession. It also plans foray into the European markets.
When asked about the competition, he said the company pays attention to quality and after-sales service and invests around Dh5 million each year in research and development.
He said the company also provided free service on products for eight years and remained the only one in the industry to give five-year warranties on Vinverth.
"Ten years back, when we ventured into this business, people used to ask us can you beat the Japanese brands. When we ventured into the emergency lantern and torch business, one Japanese brand was the clear leader.
"Look now. We are the leaders in that [emergency lantern and torch] business. Many Chinese brands are here in the market and people are ready to buy it. Take the case of the Indian mobile phone market; even though top brands are there, Chinese phones are ruling the roost.
"So competition will be there and we love competition. Only the good companies will grow and survive if competition persists," he said.
60%
market share of Britelite torches in UAE
40%
market share of Vinvert emergency lights in UAE
By Naushad K. Cherrayil
Gulf News 2010. All rights reserved.
