Nikai Group of Companies – a diversified business group with strong a focus on consumer electronics – has announced its plans to expand its business in Egypt, Iraq, Azerbaijan and Congo, as part of their aggressive expansion strategy for 2019. The change will further build on the organisation’s success and add to the capabilities of the existing four regional hubs.
With an aim to strengthen its presence in key growth markets, the strategic announcement will witness the opening of the Egypt office in the third quarter of 2019 as the first leg of the initiative, followed by the other countries in the latter half of 2019.
“Through these representative offices, we wish to build upon our current trade partnerships, explore further opportunities and continually position Nikai as a favoured electronic brand amongst consumers. Our aim is to reinforce our presence within these markets and continue to focus on being able to deliver quality and innovation,” said Paras Shahdadpuri, chairman, Nikai Group of Companies.
With over two successful decades of operations across GCC and in line with the group’s vision for 2020, Nikai has decided to invest in fast-growing economies and countries with a high value-based consumer demand. The new expansion plan will double Nikai’s local footprint and place the company closer to the consumer it serves. A team of dedicated sales staff will manage various in-market promotions and initiatives to drive further awareness of Nikai as a multifaceted business and innovative consumer brand.
“The change in custom laws in few of these markets, and with local government giving higher impetus to investors to set up operations in the region has encouraged the group to expand further. Also, these markets offer potential for growth over the next 3-5 years for our category. We are hopeful that the new regions would contribute to 15-20% of Nikai’s revenue over the next 3 years,” added Shahdadpuri.