Top officials during the press conference in Dubai on Wednesday.
Business Bureau, Gulf Today
Blue Ocean Group, a Dubai-based master distributor of consumer electronics, domestic appliances, electrical goods, telecom equipment as well as fashion accessories, today announces its expansion in to the United Kingdom, ahead of Brexit, which is expected to change the market dynamics in the United Kingdom.
This makes Blue Ocean Group the first UAE distributor to enter the UK market ahead of the Brexit deal and puts the distributor in a comfortable position to support the local distribution market in the UK with their expertise in the Middle East Region.
Blue Ocean Global Group has set up its international office in London, United Kingdom, which will be operated from Manchester city and serve the growing online and physical distribution market of consumer electronics and household appliances as well as other types of goods – ensuring smooth delivery of products to retailers and dealers fast and in a more effective way for consumers to access them as per their convenience.
“This is a strategic move by the Blue Ocean Group to tap the growing opportunities in the United Kingdom as it leaves the European Union this year,” Shahzad Ahmed, Chairman and Chief Executive Officer of Blue Ocean Group, says.
“Our expansion into the UK market will also help us to promote and sell the UAE’s home-grown electronic products in the United Kingdom and help boost UAE exports to and imports from the UK. This provides a golden opportunity for UAE businesses to tap new markets and help their businesses grow.”
The market value for consumer electronics in the UK is expected to reach around $20.82 billion (£16.39 billion) by the end of 2019, according to Statista, a global business tracker. This is expected to grow to US$21.27 billion (£16.74 billion) in 2020.
According to a Zion Market Research report, global consumer electronics market was valued at around US$1.17 trillion in 2017 and is expected to reach approximately US$1.78 trillion in 2024, growing at a compound annual growth rate (CAGR) of slightly above 6.0 percent between 2018 and 2024.
Blue Ocean Group, a Dubai-based diversified business conglomerate that represents some of the world’s best-performing electrical, electronics and consumer goods as master distributors, has witnessed more than 20 percent growth year-on-year since its inception in 2013.
Blue Ocean Group exports and promotes products in 40 countries with a team of more than 50 people. The company distributes consumer electronics, electrical and household appliances through a network of more than 100 distributors and more than 250 system integration partners in nearly 40 countries. In the UAE, the company’s network of distribution exceeds 400 retail chains across the country.
“As the market shifts from physical and offline distribution to online and app-based mobile channels, we are also shifting gear of our distribution business to these channels in order to reach the end-user customers faster,” Shahzad Ahmed says.
Consumer electronics market in the United Kingdom is expected to reach US$20.82 billion (£16.39 billion) in 2019.
“Despite challenging economic conditions in different parts of the world, the Blue Ocean Group companies are penetrating deeper into the market with international brands and helping them to grow with us in the UAE as well as our international distribution network across 40 countries.”
Blue Ocean Group has a market presence in GCC, Middle East, Asia, Africa, Australia and New Zealand. Established in 2013, the Blue Ocean Group and its affiliate companies undertakes the entire sales, distribution, warehousing, transportation, branding, advertisement, communications and marketing activities of brands it services – offering almost 360 degree professional services.
With a network of about 250 telecom resellers, Blue Ocean Group has recently been appointed by NEC Corporation as its Master Distributor for SMB communications solutions in the UAE.
Blue Ocean Global Group is a Dubai-based diversified business conglomerate with omni channel market presence in GCC, Middle East, Africa, Indian Subcontinent, Australia and New Zealand that specialises in distribution and marketing of Telecommunications and consumer electronics products
Blue Ocean Global Group and its affiliate companies undertakes the sales, marketing, distribution, warehousing and after sales services. The company’s affiliations with the market and relationship with the trade allows it to cater to the growing demands within the region.
Since its inception, the group experienced growth year over year. The group distributes and promotes products in over 40 countries. The group is managed by a professional team, having extensive regional experience in the field of telecom and consumer electronics.
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London's benchmark FTSE 100 index was up 1.0 per cent, in the eurozone, Frankfurt won 0.9 per cent and Paris climbed 0.8 per cent.
Spot gold was up 0.8% at $2,033.86 per ounce by 0655 GMT, after hitting a record high of $2,036.49. US gold futures rose 1.4% to $2,049.30.
The benchmark Nikkei 225 index slipped 0.26 per cent, or 58.81 points, to end at 22,514.85, while the broader Topix index inched down 0.04 per cent, or 0.55 points, to 1,554.71.
Brent crude was up by 31 cents, or 0.7%, at $44.74 a barrel by 0713 GMT. The contract rose 0.6% on Wednesday to its highest close since March 6. West Texas Intermediate oil was up by 26 cents, or 0.6%, at $41.96 a barrel. The contract ended Tuesday trading 1.7% higher, its highest close since late July.