Dubai: A new hypermarket brand has opened its doors in Dubai, this one located near Gate 1 of the Jebel Ali Free Zone (Jafz). The promoters of Nesto Hypermarket are quite bullish about the location and catering to a catchment area where nearly 80,000 people work and live.
"We find this is a good catchment area for us - this hypermarket won't be catering to families, but to the labourers who will provide a large customer base and should bring in a lot of business," said Sreenath Edakkalaran, group finance manager at Nesto Group. "The response has been phenomenal."
The new Dh30 million facility offers more than 20,000 products as well as in-house stores, including a music and movie library.
Nesto was established in 2004 and has since grown to include department stores and supermarkets located around the UAE and GCC. Nesto, which currently has 11 other outlets in the UAE, plans to open three more hypermarkets next year — in Sharjah, Ajman and Ras Al Khaimah.
Located mostly in low-income neighbourhoods, the promoters pride themselves on the competitive prices on offer. "We are able to give the customers very attractive prices as we have direct sellers in India and have cut out all the middlemen," said Edakkalaran. "We are able to provide good discounts to customers."
This year it grew by 25 per cent and has plans to top 35 per cent next year. The company is backed by Western International, which also promotes Geepas, an electronics and kitchen appliances brand, Royal Ford furnishing, Clark Ford watches and Young Life.