Intercoil ties up with US firm to open new outlets
Dubai, May 18, 2010
Intercoil International, a pioneer in the bedding industry, has signed an exclusive deal with Simmons, a global bedding company based in Atlanta, US, to open eight dedicated Simmons retail locations by the end of next year.
A major player in the orthopedic sleep products sector in the Middle East, Intercoil signed thelicensing and distribution agreement with Simmons at the ongoing Hotel Show in Dubai on Tuesday.
As per the agreement, Intercoil will be the exclusive licensee of Simmons products across the Middle East.
Commenting on the deal, Hassan Abbas Al Hazeem, managing director of Intercoil, said: 'We believe that our partnership with Simmons is an important milestone in the history of the company, and it will definitely support us in realizing our vision to become the market leader in the Middle East region.'
'This partnership will bring more value, quality and choice for our customers,' he observed.
Intercoil plans to open eight dedicated Simmons retail locations by the end of 2011, with four planned in Dubai and others across the region. The first Simmons exclusive showroom in the region will commence operations soon.
As part of the deal, Intercoil is importing high-end machinery & technological know-how from Simmons and will manufacture the Simmons sleep products out of Intercoil’s main factory in the UAE.
The manufacturing is scheduled to being within a months’ time. In addition, Intercoil will distribute Simmons products through its established retail network in the UAE, Oman, Saudi Arabia, Bahrain, Kuwait, Qatar, Iraq, Egypt, Jordan, and Lebanon.
”We have outlined a proactive strategic growth plan for the region. In addition to continuing to enhance our retail points, we are focusing on enhancing our manufacturing setup. We plan to open three more manufacturing facilities in the region”, Hassan said.
“The agreement gives Simmons an amplified presence in the Middle East retail and hospitality environment. While Simmons has been present in the ME for some time now, we have identified greater opportunities with Intercoil aimed at accelerating our growth in the coming months,” Todd Merker, director of Global Licensing, Simmons said.
Incorporated in 1974, Intercoil is a member of the International Sleep Products Association (ISPA) and the GCC licensee for Therapedic, a leading global brand.-TradeArabia News Service