UAE- Emax plans to open 40 new stores across Gulf

11/26/2015 10:07:05 AM

(MENAFN- Khaleej Times)

Emax Electronics will open around 40 new stores across Gulf countries in the next two years to meet the target of 100 stores by 2017 chief executive officer Neelesh Bhatnagar told reporters at a media roundtable on Monday.

Earlier this month the electronics retailer opened its 30th store in the UAE and first standalone store in Dubai. Emax which is celebrating its 9th anniversary this month has a total of 67 stores in GCC.

The UAE will get 10 more stores in the next two years mainly in Abu Dhabi and Al Ain Bhatnagar said adding that Saudi Arabia will get more stores.

"We want to do a lot of focus on Saudi Arabia so much will be in KSA for new stores" he said. Emax has 23 stores in the Kingdom.

Qatar is another big growth market after Saudi Arabia and the UAE. The company also wants to enter Kuwait market soon he informed.

Talking about the growth numbers he said it used to be around 28 per cent during the last five years but this year slowed down to 16 per cent.

There are multiple factors for slowdown including oil price impact because people are spending cautiously. "So it looks 16 per cent year on year growth in 2015" he added.

He mentioned that a lot of growth is coming from new stores. "Around 6 per cent growth comes from likes of likes and new stores bring 10 per cent" he informed.The UAE electronics market is witnessing 4-5 per cent growth this year according to research firm GfK.

Emax has a collection of around 300 brands at its stores and among them Apple and Samsung are top selling brands.

Responding a question to Khaleej Times he said: "Yes we noticed a little bit impact on sales during the first ten days after the opening of Apple's first store in Dubai.

Apple opened its two flagship stores in the UAE on October 29 and the Dubai store is located in Mall of the Emirates. Emax also has its store in the same mall.

He said ecommerce is very small portion of the total sales of Emax but its picking up.

Regarding the Dubai's standalone store he said the Manara store will serve the needs of tech savvy consumers within the area and other upscale neighborhoods of Al Wasl Jumeirah Umm Suqeim and Umm Al Sheif.

Emax according to Bhatnagar is also focusing on service side and planning to open Etisalat franchise stores in the UAE.

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