Dubai: One of the UAE’s biggest electronics retailers, Eros is launching its own brand of home appliances – ‘Krome’ – as it seeks to carve up market share in the mid-tier price range.
The product range covers refrigerators and air-conditioners, as well as gas stoves and Water dispensers. Eros believes that its existing retail network and wholesale connections built over five decades will help push the visibility of Krome. (Eros is one of the region’s biggest distributors and retailers of tech gadgets and home appliances.)
In the UAE and Gulf markets, leading global brands such as LG, Westinghouse, Samsung have long-established visibility. But that apart, there are multiple mid-tier brands that have fluid market shares of their own, depending on price points and the promotions they can come up with.
Krome reflects our deep understanding of the preferences and needs of UAE residents.
This is the space that Eros and Krome are stepping into. “We thought it was about time to put our understanding and experience of electronics business in the UAE to best use and develop our own brand,” said Rajat Asthana, Chief Operating Officer at Eros. “Also, having our after-sales service infrastructure and teams means Krome comes with the promise of Eros service.”
Growth and more growth
The home appliances sub-category in the UAE has had a couple of exceptional growth years, with each new resident, business or building creating a fresh wave of demand. Eros will be shipping in the Krome range assembled from third-party manufacturing plants in India, China and Turkey. (The UAE-CEPA deal will also help keep the import duties to 0 per cent on these shipments.)
“The price difference will be kept at 20-30 per cent lower than global brands,” said Asthana.
Oman too in initial push
Apart from UAE, Eros will be introducing Krome in Oman, followed at the earliest in Saudi Arabia and Bahrain.
In the UAE, Eros has 15 stores (including three standalone locations each for Samsung and Huawei) and three service centres. “That apart, we have the distribution channels that we have worked on through all these years,” said Asthana. “We see great potential for a new home appliance domestic brand – in the price points we will operate, there is much to be done.”
