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Denon, Marantz brands eye sales surge
Japanese consumer electronics major, D&M Holdings, has unveiled a range of high-end lifestyle audio gadgets and announced its plans to increase its retail presence in the UAE market significantly.
D&M Holdings, makers of Denon and Marantz, said that by 2013, the two home entertainment brands would be available in 40 outlets in the UAE.
“The UAE is an emerging and strategic market for us. We want to continue to expand our marketing channels to reach out to more consumers. We would invest substantially in the coming years in the UAE to promote awareness of our products and offer better service and value to customers,” said D&M Group vice-president Tomo Kamiya. He said the estimated business potential for audio related categories and premium products in the UAE is $60 million annually.
“Our marketing spend this year has gone up by more than 110 per cent compared to last year, a testimony that we intend to drive further growth from this market,” Kamiya said. Denon and Marantz have a combined market share of 34 per cent in the high-end home theatre and audio category in the UAE and an overall share of 40 per cent in the GCC, he said.
“Our sales in the UAE in 2012 went up by 42 per cent compared to 2011 and our channel and product offering became stronger. In the first quarter of 2012, we registered a growth of 144 per cent during DSF over last year. Post DSS, we had a growth of around 65 per cent. Our year-to-date growth in the UAE is close to 72 per cent,” he said.
The company’s new lineup comprises 13 new consumer lifestyle dedicated headphones and Ipod docking speakers with the name of ‘Cocoon.’
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