Saturday 23 February 2019

E-City embarks on major GCC expansion drive

DUBAI, February 4, 2018

E-City, the electronics retail arm of leading UAE conglomerate Albatha Group, has announced plans for a major GCC expansion drive that will see the company open new stores in the UAE and enter the lucrative Saudi and Oman markets.

The strategic Dh67-million ($18.2 million) plan is aimed at boosting the company's market presence in the UAE and the GCC region.

The move demonstrates the company's continuing efforts to further consolidate their regional operations while also maintaining their leading position as a prime retailer of world-class, multi-branded electronic products, said the company in a statement.

The implementation of the new strategy follows after the company marked excellent performance in 2017, it stated.
E-City has expressed confidence that the efforts to increase its market presence combined with a continuously growing electronics consumer market will help the company drive in a 20 per cent sales growth by the end of this year.

During the second quarter, the company will be focusing on the launch of newer stores across the UAE and moving on to Saudi Arabia and Oman.

Presently, E-City has stores spread across the UAE including its branches in the Mall of Emirates, The Dubai Mall and Mirdiff City Centre (all in Dubai); Al Wahda Mall and Dalma Mall (Abu Dhabi); and Sharjah City Centre.

On the expansion drive, E-City's CEO Jaouad Dakir said: "Positive market forecasts and increased consumer demand had prompted us to roll out this bid for 2018, which is aimed towards making a stronger impact and marking our presence across the GCC region."

"We have earmarked an investment of Dh67 million for the expansion efforts. The company will start its expansion in the UAE – specifically in Dubai’s Deira City Centre and three other locations in the UAE and later move on to Saudi and Oman," he added.

Dakir, who led the company's Dh35 million renovation investment of all E-City outlets in the UAE, highlighted the potential of the Saudi market, emphasizing that emerging technologies are expected to foster innovation, which could make radical changes in business models and heighten efforts to achieve the ambitious Saudi Vision 2030.

"It is a big market with a fast-growing segment for consumer electronics. Customers are always looking for a trusted and a reliable brand that is at the forefront of technology and E-City remains steadfast in its commitment to offer distinctive products and services delivered with a customer-centric attitude," he added.-TradeArabia News Service

Tags: Oman | Electronics | Saudi | GCC | Expansion | E-City |

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