Emax invests Dh15m on its stand-alone Dubai outlet

Dubai: Emax Electronics has invested close to Dh15 million to open its 30th outlet in the UAE on Shaikh Zayed Road.

Neelesh Bhatnagar, CEO at Emax Electronics, told Gulf News that the consumer electronics industry is not heading for a slowdown and there is no “cause of concern” at all.

He said that new product launches are happening in the consumer industry and people are spending apart from the booming construction industry.

The store has an area of 25,000 square feet.

According to Dubai Chamber of Commerce and Industry’s report, sales of consumer electronics in the UAE are expected to rise to Dh14.58 billion by 2015, compared to Dh11.53 billion in 2011, one of the largest in the Gulf.

The UAE’s consumer electronics market is set for strong growth with demand for goods and appliances likely to remain robust.

“We did not have a stand-alone outlet in Dubai and I was looking for an appropriate space until I found one on Shaikh Zayed Road. The only stand-alone we had was in Sharjah,” Bhatnagar said.

Market share

The investment is “justified” as there is a margin and potential of the UAE is tremendous.

“We are here to gain more market share and become a main player in the consumer electronics industry. The slowdown in tourist inflows is going to be in the short term, but we are here for long term. We have seen many ups and downs but overall we believe in the region, especially the UAE,” he said.

The retailer has invested close to Dh25 million to open two outlets in Ras Al Khaimah last week.

“We are opening three more outlets in Dubai — Burjuman, Dubai Outlet and Karama — in the next two to three weeks,” Bhatnagar said.

He said that Emax is offering 10 per cent inaugural discount on all the products at its new store in Dubai for one day [Wednesday] as a gesture to its customers.