Eurostar eyes $1bn revenue by 2020
Dubai, January 2, 2012
Eurostar, a Dubai-based conglomerate with interests in digital satellite receiving systems and consumer electronics, said it has witnessed impressive growth and aims to achieve $1 billion in annual revenues by 2020.
Eurostar said it has identified growth areas in convergent technologies, IPTV, tendering, FMCG and trading businesses.
Looking to take advantage of these growth sectors, the company has recently broadened its offerings for the Middle East and the UAE, where they have rolled out new products to complement their existing portfolio.
Since, its establishment 30 years ago, today Eurostar has grown to more than 25 retail showrooms in the Middle East region with business operations spread out across 50 countries worldwide.
“The Middle East region and the UAE in particular, have demonstrated a vibrant consumer electronics market, with consumers exhibiting strong preferences for high quality world class electronic products” said Raju Jethwani, chairman of Eurostar Group.
“The UAE remains a strong base for our re-export activities allowing us to focus on Africa and other emerging markets. Saudi Arabia, where we originally started our business continues to remain a strong growth market for several of our businesses,' he remarked.
'These factors have allowed us to remain confident that we will be able to achieve our target revenue of $1 billion by 2020,' he added.
In fact, in the Middle East market alone, Jethwani said Eurostar had seen a strong demand for its digital satellite receiving systems, range of consumer electronics, home appliances and convergent technology products.
Furthermore, the company’s channel strength of over 500 dealers, hypermarkets and corporate channel partners act as a strategic catalyst in leveraging Eurostar’s diverse portfolio of products across their business segments.
Its list of clients includes top Telco’s and other high profile corporates within the region.
'Our strength lies in our abilities to understand changing market trends and consumer demands,' remarked Jethwani.
'Besides this, we also concentrate on providing total customer satisfaction by maintaining a strategic customer care centre, an efficient supply chain management system, state of the art warehousing systems and a key research and development centre,' he added.-TradeArabia News Service