Sharaf DG Co-Ops with Union
Sharaf DG signs strategic partnership with hypermarket company Union Cooperative to expand UAE retail presence
IT and consumer electronics retailer Sharaf DG has signed a strategic partnership with hypermarket company Union Cooperative. Sharaf has marked the agreement with the opening of a store in one of the Union’s UAE-based shopping centres.
The store is 25,000 square feet and the seventh address for the retailer in the UAE, as its expansion plans seem to have not been dampened by present financial uncertainties. Its current store network includes a ‘big-box’ concept store in the Times Square Centre, an outlet in Ibn Batutta Mall and its most recent location in Dubai Mall.
“Despite the current gloomy market sentiment, Sharaf DG has been witnessing a steady growth in sales, primarily on account of our attractive promotions, exhaustive product range, lowest price guarantee and excellent customer service,” said Nilesh Khalko, CEO at Sharaf DG. “This has encouraged us to continue with our ambitious expansion plans even though other companies are scaling back their operations.”
The Union says the move will place it on a level playing field with competing hypermarket names such as Lulu and Carrefour, and will strengthen its position in the emirates’ retail market.
“Union Co-Op is a very popular hypermarket chain with a philosophy and reputation similar to Sharaf DG — quality products at the best prices,” continued Khalko. “Hence our decision to join hands and open our store at the hypermarket's Al Wasl branch, which is a great location. We hope to extend this co-operation to other Union Co-Op branches in time to come,” he concluded.
Prior to cutting the ribbon at this and its most recent store in Dubai Mall, the firm branched out of the UAE with the unveiling of a location at the largest shopping mall in the Kingdom of Bahrain. Sharaf DG says that it plans to drive forward its business at the same “feverish” pace this year as it did over the last.