Business | Economy
Ajmal Perfumes to open 90 outlets
UAE-based company intends to expand from 110 to 200 stores within five years
- By Shakir Husain, Staff Reporter
- Published: 23:33 October 25, 2008
Dubai: UAE-based Ajmal Perfumes plans to open 90 new outlets across the Gulf to benefit from a regional retail boom.
Abdullah Ajmal, the company's deputy general manager, said the GCC market for perfumes is growing about 12 per cent a year.
"This market is an interesting one as it craves new products all the time," he told Gulf News. "It is also a highly sophisticated and intelligent market that knows what products are trendy and which ones to look out for in the future."
"At present we have 110 outlets within the GCC. In the next three to five years we hope to reach the 200 figure," Ajmal said.
He feels the main driver of demand is still the resident population.
Although tourists are becoming an important factor in sales, their numbers are still not large enough for perfume sales. Saudi Arabia is considered a high growth market that has a "tremendous amount of retail opportunity".
The company also plans to open outlets in a number of other countries outside the region.
50,000 bottles a day
"The details are being finalised," Ajmal said, without naming any locations.
At present the company's production capacity is 50,000 bottles a day. It has a large factory in Dubai. "With our growth plans it is inevitable that we need to look at ways to be able to supply the forthcoming demand," Ajmal said. "Where we do not have physical presence, we hope to expand our reach by establishing distribution channels. We have reached 20 countries so far, but hope in the next few years to reach more than 30."
He said the company is in the process of expanding its production line in Dubai.
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