UAE-based Nikai Group recently celebrated its 1st anniversary in the Arab Republic of Egypt. Nikai electronics recorded impressive growth in the market and performed exceedingly well in the consumer electronic goods segment.
While Nikai’s LED TV proved to be their bestselling product category, there was a significant increase in demand from both channel partners as well as consumers for their small appliance portfolio such as electric ovens, steam irons, vacuum cleaners, and vertical fans. During its first year, the group collaborated with many prominent retailers such as B. Tech, Raya Retail and Raneen Electronics.
“Our expansion in the Arab Republic of Egypt was on the anvil for quite some time. We believe that the Egypt market provides potential for growth across our product segments, and we expect this expansion to contribute significantly to Nikai’s revenue in the coming years. The company also wishes to start its export business by focusing on the “Made in Egypt” portfolio and take advantage of the trade agreements concluded by Egypt with other African countries under the COMESA Treaty. In our first year, we have received an excellent reception from retail partners and customers in the country, which encourages us to further strengthen our presence in the Arab Republic of Egypt,” said Paras Shahdadpuri, Chairman of the Nikai Group.
“The first year in the market has been really exciting for us. We expect a minimum of 25% growth in sales compared to the same period last summer. The company’s strategy for the Egyptian market has been to establish a wide range of electronic products and devices within the first 3 years of operation,” said Karthik Moorthy, Vice President of Nikai Group and Head of Business in Egypt.
“We started from scratch in creating our portfolio in Egypt. We are confident of building a significant portfolio over the next couple of years across major product sectors and we believe this would help our company grow in Egypt. Our intent is to give the Egyptian consumer a taste of how our global portfolio looks like and we are constantly improvising to ensure that we deliver true value. We acknowledge the efforts of our employees, suppliers and key partners who have provided constant support and the senior management of NIKAI GULF, especially our Group chairman, Mr. Paras Shahdadpuri for his unflinching trust on the Egypt Team and his belief that the consumer would wholeheartedly support and embrace the foray of NIKAI in its EGYPT Avatar,” he added.
In the first year itself, the group has built a strong network with prominent e-commerce portals and with both regulated and independent retail channels in the market.
Since the establishment of the Nikai Group of Companies in 1988, the group now owns more than 400 products, supported by more than 60 million satisfied shoppers in more than 60 countries.