Eros expands portfolio by adding Midea line-up
Elvis Wang, general manager, Midea Middle East; Justin Liu, head of business development, Midea; Ahmed Badri, director or Eros group; Deepak Babani, chief executive officer, Eros Group; and Niranjan Gidwani, deputy chief executive officer, Eros Group. - Supplied photo
Eros Group, a leading distributor and retailer in consumer electronics and home appliances market, on Tuesday announced the expansion of its brand portfolio by partnering with Midea, one of the fastest growing home appliance brands in Asia.
Eros will distribute the full array of Midea home appliances in the UAE and other markets including Oman, Qatar, Bahrain and East Africa as per the partnership agreement.
The Dubai-based Eros, which posted Dh4.5 billion in revenues in 2015, is the sole distributor of several well known brands brands, including Samsung, Hitachi, TCL and Linksys. Deepak Babani, CEO of Eros Group, outlining the marketing strategy for Midea range, said the partnership's goal is to position Midea among the top three home appliance brands in three years.
Apart from an exclusive Midea showroom to be set up in Bur Juman, a whole range of products from the Chinese manufacturer will be showcased at Eros retail outlets and will be distributed through its wide dealership network.
"Midea provides a comprehensive product portfolio and vast production capacity to meet the growing demand for quality home appliances. Midea's integrated research and manufacturing process helps to enrich lifestyles worldwide through a distinct range of innovative, yet affordable products, and we are happy to offer these in the UAE," said Babani.
"As a leading electronics distributor, we have built a strong and enduring relationship with our customers, and we continue to offer them products from respected brands. Our customers appreciate the choice we offer and we believe our collaboration with Midea will enhance that offering," said Babani.
Niranjan Gidwani, Deputy CEO, Eros Group, said the new partnership is very important for Eros in its growth plan given Midea Group's strength as one of the most successful appliances brands in the world.
"Like Eros Group, Midea has grown on the back of its consistent quality and focus on innovation. Midea is also one of the top sellers in the ecommerce category in China. The extensive range of products, which Midea brings with it, provides our customers with a wider choice at great prices," said Gidwani.
Midea, which recorded revenue of $21.3 billion in 2015, has made its mark in Asia's home appliances market as a top selling brand in several categories. The company has manufacturing capabilities across the globe. Its extensive range of products includes refrigerators and washing machines, cooking ranges and dishwashers, microwave ovens and other small domestic appliances. Justin Liu, Business Development Manager, Midea International Business, said his company is pressing ahead with the globalisation of its operations by setting up production bases in Vietnam, Belarus, Egypt, Brazil, Argentina, and India. The company will also be making forays into other markets soon. "We focus on creating a 'home feeling' with every product our consumers use. We are happy with our collaboration with Eros Group whose vision is in line with Midea's strategy to expand its distribution network to offer better services to consumers in the Middle East," said Liu. - email@example.com