Emax investing Dh250m to open 18 new stores in the Gulf

Dubai: Emax Electronics is investing Dh250 million to open 18 new stores in the Gulf, including eight in the UAE, before the end of 2013.

“We will be investing between Dh120-Dh150 million in the UAE this year (2013) to open around eight stores, compared to four outlets last year,” Neelesh Bhatnagar, CEO of Emax Electronics, told Gulf News.

He said the tourism boom and the right infrastructure in Dubai is giving a shot in the arm to the consumer electronics industry. Consumer confidence is also rising due to the positive economic growth.

According to Dubai Chamber of Commerce and Industry’s latest 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. The UAE’s consumer electronics market is set for strong growth with demand for goods and appliances likely to remain robust, the DCCI report said.

The largest electronics retailer in the Middle East on Wednesday opened one outlet each at Sharjah City Centre and Sahara Centre in Sharjah to cash in on the growing demand.

The Sahara Centre outlet occupies a space of 10,000 square feet while the Sharjah City Centre has an area of 5,000 square feet.

As of now, Emax has 15 stores in the UAE and 38 in the Gulf, Bhatnagar said and added that Emax will have 50 outlets by the end of 2013.

Emax is confident that the new outlets will increase its sales turnover by 50 per cent across the Gulf compared to 40 per cent in 2012.

“Each mall gets its own footfall and if you are not present in a mall you will miss out on the sales. It is important for every retailer to be present at all the key malls. It has become a necessity,” he said.

“We are focusing more on Saudi Arabia this year and we will see more than 50 per cent growth coming in from the country. As of now, we have 12 outlets in Saudi Arabia. We have already signed up for six outlets and given an opportunity we will open more,” Bhatnagar said.