Hisense Middle East partners with Al-Futtaim Electronics to strengthen its TV distribution in the IR segment
Dubai UAE, 10th October 2021: Hisense, one of the largest consumer electronics and home appliances company in the world, has formed a strategic partnership with Al-Futtaim Electronics, part of the Retail Division of the UAE-headquartered Al-Futtaim Group and one of the region’s major players in the consumer electronics distribution in the UAE and GCC. Through this partnership, Hisense intends to enhance its independent retail (IR) business across the UAE, focusing on TV distribution.
Hisense ME has achieved remarkable growth in the region and has grown into a multi-million-dollar business, and this partnership will enable Hisense to facilitate the estimated growth of 50% by 2022 in the UAE market. Al-Futtaim Electronics’ unique capabilities and expertise in operating full-fledged distribution, warehousing, and after-sales services, along with their comprehensive distribution network within the independent retail (IR) market deems Al-Futtaim Electronics an invaluable partner for Hisense’s TV IR distribution. It’s a milestone moment for both companies to expand their business footprints and solidify their market positions.
The partnership was announced at a signing ceremony held between Hisense Middle East and Al-Futtaim Electronics on Thursday, 7th October at a hotel in Dubai.
The event was attended by several representatives from both corporate organisations, 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 top management members from both the organisations.
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 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.”
The UAE market has a good growth potential due to consumer purchasing power, high product and technology awareness, as well as an increasing demand for innovative, smart and affordable televisions. 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%.
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.”
Founded in 1969, Hisense is a multinational company headquartered in Qingdao, China covering business areas like multimedia, home appliances, IT intelligent information and modern service industries. The company owns three listed companies – Hisense Visual Technology, Hisense Home Appliances and SANDEN listed in Shanghai, Shenzhen, Hong Kong and Tokyo and has acquired many known brands including Toshiba, Gorenje, Kelon, Ronshen and ASKO.
With the core values of ‘integrity, innovation, customer focus and sustainability’ and the development strategy of ‘Sound Technological Foundation and Robust Operation’, the brand has delivered supreme quality products, excellent after-sales and customer services as well as reassurance of its comprehensive warranties, for over 50 years.
Hisense is also the global leading brand in B2B industries including Intelligent Transportation, Intelligent Medical and Optical Modules. The company owns the world’s leading ULED Local Dimming backlight control technology and laser display technology while developing the chip technology and continues in developing 8K ultra-high-definition display image quality processing chips, TV SoC chips, and AI chips.
With products exported to over 160 countries and regions, Hisense has sponsored the world’s top sporting events such as UEFA EURO 2016, 2018 FIFA World Cup, UEFA EURO 2020 and 2022 FIFA World Cup, and becomes the global sponsor of Paris Saint-Germain football club.
Hisense has 16 industrial parks located in Qingdao, Shunde, Huzhou, Czech Republic, South Africa, Mexico, etc. as well as 16 R&D centers located in Qingdao, Shenzhen, the USA, Germany, etc. working towards a wide range of highly competitive products.
Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates.
Structured into five operating divisions; automotive, financial services, real estate, retail and health; employing more than 33,000 employees across more than 20 countries in the Middle East, Asia and Africa, we partner with over 200 of the world’s most admired and innovative brands.
Al-Futtaim’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration, integrity; Al-Futtaim continues to enrich the lives and aspirations of our customers each and every day. For more information visit: www.alfuttaim.com