ME retail sector 'to hit $500bn by 2010'
Dubai, March 15, 2009
FINE, a leader in the Middle East’s hygienic paper industry, expects to benefit from forecasts that the Middle East’s retail sector will be worth $500 billion by 2010.
The forecasts have fueled a positive outlook among the Gulf’s FMCG companies, more so as the Gulf countries account for more than 60 per cent of total retail in the Middle East, said a statement.
The company predicts this year to be another productive year for the Gulf’s fast moving consumer goods (FMCG) sector.
The regional FMCG market has not been as affected by the economic crisis as other industries, although there is a consumer trend towards more economical products.
FINE posted a solid 15.17 per cent growth in 2008 to maintain its market leadership in the toilet roll and facial tissue segment of the hygienic paper industry.
'FINE is in a very good position to post another strong year as we maintain a wide range of products which cater to all income levels and consumer types,' said Peter Janho, chief area officer for the Arabian Peninsula and Iran, FINE.
'What we want to focus on in 2009 is to offer more tangible value for our products which can lead to significant savings. We also intend to further enhance our customer services, and create products which have high levels of environmental friendliness.'
In 2008, FINE held 22 per cent of the total UAE hygienic paper market, with facial tissues acquiring 21.35 per cent, toilet paper 23.31 per cent, kitchen towels 13 per cent and baby diapers 10 per cent, he added.
The company recently introduced its Finee brand of baby diaper.
FINE also constantly offers volume deals to provide customers with added value.
It has been consistently included in the Forbes Arabia Top 40 Arab Brands list amoung the top 10 brands in the Middle East, affirming its status as a major household name in the hygienic paper market.-TradeArabia News Service