Eros Group set to introduce a new platform in December

Eros Group will introduce a new platform in December to align its business model in line with the market trend to become a Dh4 billion company by 2025, its top official says.

The Dubai-based business conglomerate has made significant investment to overhaul its branding — both online and offline— by replacing Eros Digital Home to www.eros.ae to increase sales and enhance delivery and logistics options.

“Consumers buying trends in retail and e-commerce business have been changed after the Covid-19 pandemic introduced a new lifestyle and work culture in past two years. We have aligned our business strategy in line with the market trends to cater to the consumers’ needs,” Mohammed Badri, director of Eros Group, told Khaleej Times during an interview.

Eros Group is a 53-year-old organisation specialising in the distribution and retail of consumer electronics, mobility, IT, home appliances and convergence products. It partners with more than 14 international brands, operates 17 retail stores and three service centres across the UAE.

Banking on online sales

Badri said e-commerce sales gained momentum during the Covid era and registered a significant growth in past two years.

“Now, online sales contribute 20-25 per cent to our business annually. We see another 10-15 per cent growth in online sales over the next two years,” he said.

Referring to successful business strategy, he said Eros Group registered a 10-15 per cent year-on-year growth in 2020 despite a challenging environment in the wake of Covid-19 pandemic.

“I’m confident to sustain the similar growth this year as the group turned the challenges into opportunities with better planning, business strategy and product management to cater to the consumer requirements during the pandemic,” he said.

“We see so many business opportunities in e-commerce business and developed good relationships with online marketplace websites such as [but not limited to] amazon and noon. The group has been investing more in e-commerce to increase online sales but to enhance delivery and logistics options as well,” he said.

Diversified portfolio

Badri said Eros Group has various business channels and it does not rely only on retail and e-commerce to sustain growth in coming years.

“We utilise our strengths such as B2B, export market and other business modules,” he said.

“Distribution is our strength and we never stop building of Eros products portfolio even in the pandemic era. We have a close eye on consumer buying trend and develop wide range of products to serve the consumers’ needs,” he said.

Retail is an integral part of the group’s business strategy as the consumers never stop shopping, said Badri who sees constant development in the sector.

“We, at Eros, believe that the combination of retail and e-commerce is healthy for business,” he said.

Badri said innovation is part of the Eros Group DNA in today’s competitive business environment and the group would soon add logistics services to its portfolio.

“Logistics service has become an important business line for any industry. We are ready to venture into this segment to manage our supply chain more efficiently,” he said.

Expansion drive

Badri said Eros Group is keen to expand its footprint in the UAE and the region.

“We always look for prime locations to expand our presence. Recently, we inaugurated two new stores at Nakheel Mall and City Centre Al Zahia while another outlet will soon be inaugurated in Dubai Hills,” he said.

To a question, he said the group benefits from its base in the UAE, which is strategically positioned at the crossroads off Asia, Africa and Europe with a serving ability to over two billion people.

“Eros Group has expanded beyond its borders to serve not only customers in the UAE but also on select markets in the Middle East and North Africa region,” he said.

Setting ambitious targets

— muzaffarrizvi@khaleejtimes.com