Dubai: KHIND, a global consumer electronics manufacturer, has partnered with retail giant Al Futtaim to distribute KHIND products in the consumer electronics segment across the UAE.
The agreement is expected boost to the household appliance market revenue in the Middle East and Africa (MEA), region that has been growing from $6.3 billion (Dh23.12 billion) in 2017 to $7.6 billion (Dh27.9 billion) in 2021, according to Statista. Household appliance market revenue in the MEA is projected to grow to $8.4 billion in 2023.
The contract illustrates the shared commitment of both parties to further penetrate the market and broaden their reach within the Middle East region that will also help the market to grow in the next few years.
“I strongly believe that right distributor enhances a company’s exposure in the product market and can give an edge in terms of speed and efficiency,” said Adil Mistry, Group CEO, KHIND Holdings Berhad. “This association will widen our customer reach and help us to grow faster in the region.”
Revenue in the UAE’s vibrant household appliances segment is projected to reach $332 million (Dh1.21 billion) in 2021, according to Statista.
In the household appliances segment, the number of users is expected to amount to 2.9 million users by 2025, resulting a user penetration level of 21.5 per cent in 2021 and is expected to hit 28.2 per cent by 2025.
