Euronics – Sharaf: New Partnership in Middle East

Euronics – Sharaf: New Partnership in Middle East

Amsterdam, 21 April 2015

Euronics, Europe’s leading retail group in consumer electronics, yesterday signed a strategic partnership agreement with the leading electronics retail organisation in the Gulf States – Sharaf DG.

Sharaf DG, part of the Sharaf Group, operates 29 POS across the UAE, Bahrain, Oman, and Qatar. Recipient of many recent awards including Superbrand, Best Retailer of the Year, and the Global Brand Simplicity Index ME, Sharaf DG has multiple shopping formats ranging from flagship stores to specialist concept stores, and boutique outlets which together allow them to reach a broad spectrum of customers and provide them with a complete value added shopping experience.

The rationale behind this major expansion is easily explained according to John M Olsen, Managing Director of Euronics International: “The Middle East and North Africa is expected to be the fastest growing region in Consumer Electronics over the next 5 years. We believe that Sharaf DG is the ideal partner in the region as they are the number one specialty electronics retailer in terms of market share, are focused on innovation and technology, and have a strong dedication to customer service. The fact that Sharaf DG attracts 1 in 6 UAE residents into its stores every month shows the strength of the brand”.

Nilesh Khalkho, CEO Sharaf DG underscored the cooperation: “Euronics and Sharaf DG will work together in the region to launch the most innovative products from the leading international brands. We are proud to partner with Euronics who is No.2 in Europe and No.3 worldwide in the Electronics Category”. Mr Khalkho additionally emphasised the importance of Euronics’ strengths in new areas: “Euronics’ new cooperation with the AllSeen Alliance will help Sharaf DG deliver products to address the Internet of Things and lead our market in Smart Home solutions”.

Mr Carpels summarises: “With Euronics celebrating its 25 year anniversary in 2015, this is the perfect time to demonstrate the strength of our business model, and our passion for bringing new innovation first to consumers supported by our strong relationships with key players in the industry. We see a perfect fit with Sharaf, being the leading value added retailer in the Gulf Region, through which Euronics enters a new chapter and further strengthens its geographic footprint across EMEA. We look forward to working with and benefiting from Sharaf DG’s experience across this new region in the Group”.