The partnership will help both organisations to expand their business footprints and leverage each other’s strengths to consolidate the market.
Chinese technology company Hisense has signed a strategic partnership with Al-Futtaim Electronics, part of the Retail Division of the UAE-headquartered Al-Futtaim Group.
Hisense intends to enhance its independent retail (IR) business across the UAE, focusing on TV distribution. This partnership will enable Hisense to facilitate the estimated growth of 50% by 2022 in the UAE market. Al-Futtaim Electronics’ capabilities and expertise in operating full-fledged distribution, warehousing, and after-sales services, along with their distribution network within the independent retail (IR) market deems Al-Futtaim Electronics an invaluable partner for Hisense’s TV IR distribution.
Hisense sales have been growing recently in the Middle East with a 116% growth rate in the first half of 2021; compared to 2020. Sales growth in TV sets specifically has increased by over 94%.
During the ceremony, Jason Ou, Managing Director of Hisense Middle East and North Africa said that this cooperation is an integral part of Hisense’s core strategy to help consolidate and expand its TV business in the UAE.
He continued: “Our new partner Al-Futtaim Electronics has been successfully operating in UAE’s retail market with expertise and capabilities in distribution for decades. This experience and expertise will help both 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.”
Sachin Wadhwa, Managing Director of Al-Futtaim Electronics, added: “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 of Hisense Middle East, stated: “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. 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 and 2020, the Australian Open, NASCAR Xfinity Series, Red Bull Racing, Joe Gibbs Racing, Germany’s FC Schalke 04, FIFA World Cup 2018, and Paris Saint-Germain. Continuing its sports marketing momentum, Hisense will also be the official sponsor of the FIFA World Cup 2022. 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.”
