After two decades of successful operations in the GCC, UAE’s home-grown brand Nikai has commenced operations in Egypt by setting up facility for the production of television sets. The company believes that fast-growing economy with a high value-based consumer demand will help build on its existing market in Cairo.
Nikai chairman Paras Shahdadpuri said the expansion marks a new era for the company. Despite the global economic slowdown, the consumer electronics industry has remained steady, he added. He said that the Egypt expansion was on the radar for quite some time and the company has been actively working on it for a few years.
“We believe that the Egypt market offers potential for growth across our category and we expect the new region to significantly contribute to Nikai’s revenue in the coming years. The expansion process will continue throughout the year with markets in CIS and East Europe being our next destination,” he added.
He added “All major business houses across the GCC market keep looking for avenues that enhance its contribution to the society around. Keeping this spirit in mind, Nikai’s business set up in Egypt will look at contributing to the economy through active employment of the local workforce which in turn will also help the brand imbibe the regional understanding.”
The brand is celebrating its 25th anniversary this year.
Also published on Medium.
