Dubai; February 09, 2020: Taking the first step towards the Group's 2020 expansion plans, Nikai Electronics, UAE's homegrown brand and one of the top consumer electronic labels in the GCC, commenced its operations in Egypt earlier this month. The operation setup is expected to build on the organization's consistent success and further add onto the capabilities of the existing market in Cairo.
After two decades of successful operations in the GCC, Nikai group has stepped into another fast-growing economy and a country with a high value-based consumer demand. Egypt consumers will get to experience brand Nikai with the launch of its LED Televisions later this month, which will be available across all leading retail partners.
Speaking on the occasion, Paras Shahdadpuri, Chairman, Nikai Group said “We are starting a new era for our company with the production of television units in Egypt. Despite global economic slowdown, it is pleasing to note that the consumer electronics industry has remained steady and I am sure that it will continue to remain strong. The Egypt expansion was on our radar for quite some time and we have been actively working on it since the last few years. We believe that the Egypt market offers potential for growth across our category and we expect the new region to significantly contribute to Nikai's revenue in the coming years. The expansion process will continue throughout the year with markets in CIS and East Europe being our next destination.”
He added “All major business houses across the GCC market keep looking for avenues that enhance its contribution to the society around. Keeping this spirit in mind, Nikai's business set up in Egypt will look at contributing to the economy through active employment of the local workforce which in turn will also help the brand imbibe the regional understanding.”
2020 is a landmark year not only for the UAE but also for its most loved electronic brand Nikai, which will celebrate its 25th anniversary later this year. Being one of the top-selling electronics brands in the GCC, Nikai has successfully plugged into some of the most competitive markets over these years.
Karthik Moorthy, VP – Sales & Strategy, Business Head - Egypt also expressed his happiness on the strategic partnership with RAYA TRADE (Distribution and Retail Venture of the highly acclaimed RAYA HOLDING COMPANY) for the distribution of Nikai range of products across all sales channels in the country of Egypt.
Karthik said “RAYA TRADE brings in excellent synergy to this venture given their vast expertise in distribution of international electronics and IT brands. Their large retail presence will also add significant value in establishing Nikai as a brand to reckon within the Egyptian market. All Nikai range of products will be backed by the superior advantage of RAYA SERVICE when it comes to delivering outstanding consumer service. Reliability has always been a hallmark of the NIKAI brand and we feel that there is no better name than RAYA SERVICE that can extend the same level of service guarantee to the Egyptian consumer. Nikai will aim to offer the latest technology at the most competitive price.”
Since the foundation of the Nikai Group of companies in 1988, the group has come a long way and built a diversified global business that offer reliable products, exceptional service and superior value to customers. Today Nikai electronics boast a range of over 400 plus products being advocated by over 60 million satisfied customers in over 60 countries.