Business | General
Jacky's to open two outlets at Dubai Mall
Jacky's Group of Companies will be opening two new outlets at Dubai Mall in August with an investment outlay of about Dh2.5 million-Dh3 million as the spending power among the middle class is booming, said company's chief operating officer Ashish Panjabi.
- By Naushad K Cherrayil, Senior Sub-Editor
- Published: 23:40 July 15, 2008
Dubai: Jacky's Group of Companies will be opening two new outlets at Dubai Mall in August with an investment outlay of about Dh2.5 million-Dh3 million as the spending power among the middle class is booming, said company's chief operating officer Ashish Panjabi.
"With the UAE considered as the region's hub for consumer electronics industry, we would like to capitalise on this growth and make Jacky's Electronics' presence stronger in every emerging emirate by partnering with leading mall developers," he said after opening its 11th outlet at the Sharjah City Centre.
Sharjah facility
He said Jacky's Express, the 1,800 square-foot outlet and the second one in Sharjah, will cater to the increasing number of people residing in Sharjah and will be home to various brands of digital gadgets.
"The consumer electronics market in Sharjah has been maturing and is no longer seen as a market for cheap and unbranded products. Customers are now rapidly adapting mobile and modern technologies packed with quality, extended warranties and brand names they can trust," Ashish said.
"We recorded 30-35 per cent growth in the first half when compared to last year due to strong demand and the rise in freehold market. People are also spending owing to the easy access to credit," he said.
He said the company has a positive outlook for 2008 and it expects to continue its first half growth. It has nine outlets in East Africa and it plans to pump more funds into the region as it is profitable than opening outlets in the Gulf.
The multi-brand electronics retailer has a direct presence in the UAE, Hong Kong, Singapore, China and Pakistan. It hopes to open outlets in other emirates next year.
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