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What is the company’s outlook on demand vis-a-vis challenges also related to the stiff competition from other top brands?
Beko has been the fastest growing brand in the overall European market between 2000-2016 and is now the second largest brand in Europe in the white goods sector so we have a very solid track record in entering into a market as a relatively unknown brand and overcoming the challenges represented by other top brands.
Discuss the brand’s focus on the premium segment vis-a-vis the mid-range or the entry level consumer electronics/appliance market?
Beko offers great quality and value at every price band for our customers which is a major driving force behind Beko being the leading brand in freestanding category in Europe. As the official partner of the everyday, we at Beko are committed to offering smart and innovative solutions to help make people’s lives easier every day.
What are expected new launches before the year ends?
We have no new launches planned for the Middle East in 2017 but we have a number of exciting launches planned for the region in 2018.
Discuss if the company has been successful to make inroads as anticipated since entering the market? What’s the market share you are aiming for in Middle East region?
In the UAE, Beko’s growth in 2016 was driven predominantly by large appliances, with sales of washing machines and dishwashers growing by 20% in the United Arab Emirates, year over year. Cooling appliances, including Beko’s state of the art refrigerators and freezers, also saw robust growth as the Beko brand continues to make inroads into the Middle East white goods market, with sales in this category also growing by 20%.
In Saudi Arabia, Beko’s growth in 2016 was driven predominantly by large appliances, with sales of washing machines increasing up to 75% in the Kingdom of Saudi Arabia, year over year. Cooling appliances, including Beko’s state of the art refrigerators and freezers, as well as dishwashers also saw robust growth as the Beko brand continues to make inroads into the Middle East white goods market, with sales in both of these categories growing up to 75% in Saudi Arabia.
How has the company’s go to market strategy changed in the region? Who are your current distributors?
The Beko brand promise is to be the ‘partner of the everyday’, and our products champion that promise by developing products and technology that fits seamlessly into family life. Our products and innovative technology not only provide good value, but help busy households manage domestic tasks efficiently, creating more time to spend with family.
Beko has been Europe’s fastest growing home appliance brand between 2000-2016 which we have achieved by continually developing products and technologies that fit seamlessly into people’s live and help make daily chores that bit more simple and efficient. We have increased our market share in leading markets like France, Italy, Spain and Poland and are now the 2nd leading brand in Europe . Our objective is now to replicate that success in the Middle East markets and the first half results are an encouraging sign that we will achieve our goals.
We currently have distribution deals with a number of key outlets such as Carrefour, PlugIns and Sharaf DG, and X-Cite and are also present in the e-commerce space with partners such as Souq.com.
What are your plans further to consolidate in the region?
Our focus for 2018 is on our key markets of Saudi Arabia and the United Arab Emirates. Each of these markets
