Hisense has signed a partnership with Al-Futtaim Electronics, a subsidiary of the UAE-based Al-Futtaim Group. Hisense wants to expand its independent retail (IR) business in the UAE through this agreement, with an emphasis on TV distribution.
Hisense ME has evolved to be a multi-million-dollar business in the region, and this partnership will enable Hisense to help the UAE market grow by 50% by 2022. Al-Futtaim Electronics’ unique capabilities and expertise in full-service distribution, warehousing, and after-sales services, as well as their extensive distribution network within the independent retail (IR) market, make them an excellent partner for Hisense’s TV IR distribution. For both organisations, it’s a watershed moment in terms of expanding their corporate footprints and solidifying their market positions.
The agreement was revealed at a signing event conducted on Thursday, October 7th at a hotel in Dubai between Hisense Middle East and Al-Futtaim Electronics.
Several top executives from both companies attended the event, including Jason Ou, Managing Director of Hisense Middle East and North Africa, Ismail Al Hurani, COO of Hisense Middle East, Sachin Wadhwa, Managing Director of Al-Futtaim Electronics, and other senior executives from both companies.
Managing Director of Hisense Middle East and North Africa, Jason Ou, noted during the event that this collaboration is an important aspect of Hisense’s fundamental goal to assist consolidate and build its TV business in the UAE.
He continued, “Our new partner Al-Futtaim Electronics has been successfully operating UAE’s retail market with expertise and capabilities in distribution for decades. This experience and expertise will help both the organisations to expand their business footprints and leverage each other’s strengths to consolidate the market.”
“There is a huge potential for Hisense TVs in the UAE market, taking into account the market dynamics, competition landscape and Hisense product competitiveness. Hisense aims to develop its TV business by expanding its operations, increasing the channel expansion, and adopting an aggressive sales and marketing strategy across the relevant market verticals.”
“I am certain this cooperation will play a key role in strengthening Hisense’s independent retail business by scaling up the coverage, optimising efficiency and expanding the market penetration across all the seven Emirates, enabling us to better serve our channel partner as well as enhance product accessibility to the end consumer.”
Due to consumer purchasing power, strong product and technology awareness, and an increasing demand for innovative, smart, and inexpensive televisions, the UAE market has a good growth potential. Hisense sales have been increasing in the Middle East recently, with a 116 percent increase in the first half of 2021 compared to the same period in 2020. Sales of television sets have surged by more than 94 percent.
Talking about the partnership, Sachin Wadhwa of Al-Futtaim Electronics said, “We are very pleased to embark on this journey with Hisense and sign this agreement as we work towards enjoying a mutually beneficial partnership and collaborate to grow the business.With Al-Futtaim Electronics priding itself as one of the region’s major players in the consumer electronics distribution in the UAE and GCC, I am positive that our expertise and network will bring with it more opportunities to grow and excel in this segment.”
Ismail Al Hurani, COO Hisense Middle East concluded, “Hisense is one of the fastest growing brands dedicated to innovation and cutting-edge technologies. And we constantly strive to exceed and enhance the expectations of the consumers with the goal to make their day-to-day lives easier.”
He continued, “Hisense has been actively pursuing its global brand building through exclusive global sports sponsorships and has successfully used sponsorship to build brand awareness through leading platforms such as the UEFA Euro 2016 & 2020, the Australian Open, NASCAR Xfinity Series, Red Bull Racing, Joe Gibbs Racing, Germany’s FC Schalke 04, FIFA World Cup 2018TM, and Paris Saint-Germain. Continuing its sports marketing momentum, Hisense will also be the official sponsor of the FIFA World Cup 2022TM.This business corporation will further strengthen Hisense’s efforts to leverage its growing brand awareness along with strong business fundamentals of Al-Futtaim to drive the business to greater heights.”
