Olympic shines torch on regional expansion

Egyptian household appliance manufacturer Olympic Group will implement aggressive expansion plans in an effort to tap emerging consumer markets in the Middle East and worldwide.

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By  Michael Thorne Published  March 5, 2006

Egyptian household appliance manufacturer Olympic Group will implement aggressive expansion plans in an effort to tap emerging consumer markets in the Middle East and worldwide. The company manufacturers a wide range of white goods and currently boasts a dominant presence in Egypt. “We plan to implement an aggressive growth strategy that will involve expanding our manufacturing base and launching a major retail assault on the Middle East and territories including Eastern Europe and the CIS,” said Khaled Hegab, Olympic Group’s regional export general manager. Hegab cited North Africa, Iraq and Jordan as Olympic Group’s major regional markets at present. The company recently established sales offices in Riyadh, KSA and Sharjah, UAE, in an effort to tap the booming demand for household appliances in the GCC. It is currently negotiating a host of channel distribution deals with local companies as it seeks to penetrate these markets. “We want to work with channel partners that have the ability to realise the scale of our expansion plans,” he said. “We’re also considering establishing a franchise business. Our approach to channel distribution is becoming increasingly sophisticated. We recently forged a deal with Carrefour in Egypt and want to invest more in the GCC in conjunction with local partners such as Dubai-based Al-Futtaim Group.” Hegab said the lowering of trade restrictions and the growth in consumer demand for household appliances in the Middle East would aid the company’s expansion plans. “The region is showing positive signs of growth with the lowering of trade barriers and expansion of markets such as Iraq,” he explained. Olympic Group will also establish a manufacturing facility in Sudan and new regional sales offices over the next 12 months, in an effort to better service specific Middle Eastern markets, Hegab said.

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