(MENAFN- Mid-East.Info)
The partnership is a strong move by a leading brand in home appliances and electronics to strengthen its presence across the Middle East, Africa and CIS regions
Dubai: Post-pandemic, consumer habits have transformed drastically, with home appliances and electronics becoming embedded in the average contemporary lifestyle. A report by Growth from Knowledge (GFK) outlined that global sales of small appliances climbed by 21%, while global sales of large appliances climbed by 31% compared to the same period last year. As per a report issued by Goldstein market Intelligence, home appliance user penetration in the Middle East will reach 9.3% in 2030.
In keeping with this market growth, Admiral Corporation of America has partnered with $6bn global conglomerate ETG Distribution to accelerate distribution within the UAE and Africa markets for its home appliances arm Admiral Appliances & Electronics Middle East CIS Africa.
The agreement was signed by Mr. Vishal Saxena – CEO of Admiral Appliances and Electronics Middle East, Africa and CIS and Mr. Anish Jain, CEO, ETG Distribution. As per the agreement, ETG Distribution will distribute Admiral Corporation of America's full range of appliances, electronics and air-conditioners across UAE and African countries including Kenya, Tanzania, Uganda, Ethiopia, Mozambique, Ghana, and Nigeria.
Additionally, the partnership between both entities also brings to the fore a mutual commitment to mark expansion across the Middle East and Africa region.
Admiral Corporation of America has ambitious plans for the Middle East, Africa and CIS region. The home appliances and electronics giant has established strategic partnerships across the GCC now focused on strong growth in the African market, with the objective to establish operations across most of Africa by FY 2023.
Speaking on the sidelines of the agreement signing, Mr. Vishal Saxena, CEO, Admiral Appliances and Electronics (Middle East, Africa, CIS, Turkey) said:“Admiral Appliances and Electronics has caught the industry's attention owing to strong growth in its business and operations in the past two years. We commenced operations during the peak of COVID-19 in this region, however, this was not an impediment for us. We have always had a solid growth plan and strategy, and thanks to that, we are now one of the fastest growing American brands in the region.
We are on course to achieve a market share of 5%-6% by FY 2024 across our areas of operations, and this will be possible with our extenisive product range, competitive pricing, strong and strategic partnerships and a rich legacy of nearly 100 years.”
On his part, Mr. Anish Jain, CEO, ETG Distribution said:“We are pleased to partner with the Admiral brand for the MEA region. The company provides a comprehensive product portfolio of quality home appliances and consumer electronics. Admiral with its roots in USA is focused on bringing affordable home appliances that are best in quality and reliability to the region.”
Admiral Appliances and Electronics has several partners across the region including United Matbouli Group, Saudi Arabia; Best Al Yousifi, Kuwait; YK Al Moayyed, Bahrain; OTE Group, Oman; Abu Issa Holding, Qatar, Wadi Al Rawashed, Iraq; Privatisation Holding Company, Jordan; and now ETG Group, UAE.
About Admiral Corporation
Admiral Corporation was founded in 1934. Founded by Ross Siragusa, an Italian immigrant who was mesmerized by the inventions of Guglielmo Marconi (radio) and Nihkola Tesla (TV). Admiral's beginnings were humble but built on Siragusa's passion to bring these products into the homes of every American family. The Great Depression of the 1930's was his window to success. Having returned from the 1933 World's Fair where he saw the prototype for the television, he embarked on establishing a company that would manufacture portable radios that were affordable while keeping his eyes on the new technology. His dream was seeing success and his factories were growing in the radio trade which allowed them to take on some profitable government.
About ETG Group
ETG Distribution is the distribution vertical of ETG, a $6bn company founded in 1967, With a global presence in 48 countries with 29 in Africa, ETG Distribution has one of the biggest reach in the MEA region. Today, the group has a strong team of professionals experienced in various fields. The group also manages distribution for a large portfolio of brands like WD, Sandisk, Logitech, TCL, PlayShifu, Admiral & CHIQ. ETG Distribution is committed towards bringing quality products to the MEA region.
MENAFN17062022005446012082ID1104390903
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.