Hitachi, Eros set ambitious targets
Dubai, April 6, 2010
Electronics giant Hitachi, along with its Middle East distributor Eros Group, has set ambitious regional targets including the expansion of Eros retail division and a Dh2 billion turnover in 2010.
Elaborating on the big plans, Hitachi said the company aims to achieve a 50 per cent growth in the region in the next three years through introduction of innovative eco-friendly products backed by strong marketing initiatives, logistics and after sales service.
Eros Group, the sole distributor of Samsung, Hitachi, Candy & TCL and one of the leading players in consumer electronics, telecom, and allied multi-products in the Middle East, has been present in the UAE and Gulf for more than 40 years, while its retail division boasts 28 outlets across the UAE.
Deepak Babani, CEO of Eros Group, said, 'We have been partners with Hitachi for over four decades. We share our aspirations for growth, our futuristic outlook, and we have a history of successful business relationships.'
'Both companies are well positioned to achieve their ambitious plans in the region- Eros sees the electronics sector in the UAE grow by 15 to 20 per cent and the home appliances sector by 5 to 10 per cent this year, he remarked.
According to Babani, the consumers can expect a 5 to 10 per cent drop in electronic prices in 2010. "However, the price of appliances, which held on in 2009 after steadily rising since 2006 due to hike in raw material prices, will remain unchanged in 2010."
Hitachi’s partnership with Eros Group dates back to 1967, when the company owned by the Badri family had almost 4 employees and a tiny showroom in Deira. Since then, both companies have grown massively, and intend to continue doing so.
“Hitachi today has over 400,000 employees and an annual turnover of $100 billion. This is in part because of the successful partnerships we have made around the world, particularly this longstanding relationship with Eros Group here in this region," said H. Hirose, managing director of Hitachi Gulf.
"It is also a result of innovation and attentiveness to value and customer needs. We intend to continue on this path,” he added.
Hirose said the company was eyeing huge growth across the region through innovative eco-friendly products.
“We are targeting 50 per cent growth in the region in the coming three years. We will do this by offering innovative and cutting edge technology that is also environmentally conscience in terms of energy saving and eco-friendliness,” he added.
Elaborating on Eros Group’s expansion plans, Babani said, 'We said before that we would like our turnover to reach Dh2 billion in 2010. We aim to reach closer to our consumers by expanding our retail operations.'
'We intend to open 3-5 outlets in UAE, and have already opened a new warehouse in Abu Dhabi to address the growing consumer demands in the Emirate. Regionally, we are setting up branch offices in Qatar, Bahrain, and Oman,' said Babani.
Eros has been doing its own share of growth. The group recently opened its 28th retail outlet in the UAE at the Mirdiff City Centre after announcing 2009 sales of Dh1.6 billion, a growth in sales of 15 per cent in a year marked by a global recession, he added.-TradeArabia News Service