HOME Middle East e-tailer JadoPado has been acquired by a ‘large regional business’. The deal was announced in a blog post by JadoPado founder Omar Kassim. The identity of the acquirer has not been revealed. The acquisition of Souq.com by Amazon earlier this year raised interest in the potential of e-commerce in the Middle East, with a wide range of major business now looking to position themselves for future growth opportunities.
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DISTREE Middle East 2017 workshops to cover consumer tech market developments and e-commerce trends
DISTREE Middle East has confirmed the line-up of workshops and small group sessions at this year’s consumer technology retail channel event. The sessions form part of an extensive conference programme that runs alongside the main exhibition and pre-scheduled meetings between consumer tech suppliers and trade buyers that take place at the event.
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Tech retailers, e-tailers and marketplaces from 20-plus countries confirmed for DISTREE Middle East
More than 160 senior executives from retailers, e-tailers and online marketplaces have already confirmed their participation at DISTREE Middle East, which takes place from May 8-10th at the Meydan Hotel in Dubai. The three-day event allows consumer tech vendors and brands to showcase their portfolio and pre-schedule one-on-one meetings with retail channel executives from across the wider Middle East region.
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Home Electronics confirmed for DISTREE Middle East
Home Electronics from Bahrain will join consumer tech retailers and e-tailers from across the wider Middle East region at this year’s DISTREE Middle East channel event, which takes place in Dubai from May 8-10th 2017. Channel EMEA caught up with Sumith Thekkayil, category manager digital and IT at Home Electronics, to learn more about the retailer’s strategic objectives and to get the inside track on the highly competitive consumer tech market in Bahrain.
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Amazon reaches agreement to buy Souq.com
NASDAQ-quoted Amazon has reached an agreement to acquire SOUQ.com, a major e-commerce player in the Middle East. The move ignites an intriguing battle for e-commerce supremacy in the fast-growing region, with Noon.com, which has financial backing from Saudi Arabia’s Public Investment Fund, due to launch in the coming weeks.
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DISTREE Middle East invites retailers, distributors and vendors to enter 2017 MERA initiative awards
DISTREE Events has confirmed a deadline of April 29th for companies to enter the submission-based awards, which form part of the ‘Middle East Retail Academy (MERA): 2017 Awards’ taking place at DISTREE Middle East in May. The annual MERA Awards, taking place for the 10th consecutive year in 2017, celebrate excellence in the region’s consumer technology retail channel.
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The exclusive MMR20 vendor programme will form part of DISTREE Middle East 2017, which takes place on 8-10th May at Meydan Hotel in Dubai, UAE. The programme, which successfully launched in 2016, is reserved for consumer technology brands that have demonstrated a sustained retail leadership position in one or more product categories across the Middle East during the last year.
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Garmin expands African reach with MTN Nigeria
Fitness tech brand Garmin has teamed up with MTN Nigeria partner to introduce a range of health and fitness devices in-country. “Building off of our partnership and recent launch with MTN Ghana, we are excited to extend our footprint in Africa and partner with the leading telecommunications provider to bring these innovative solutions into Nigeria where we have seen an increasing interest and adoption of healthy lifestyles by many people,” said Jenna Chisnall, marcomms manager for sub-Saharan Africa at Garmin.
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Extra sales reach US$1 billion in 2016
Saudi retail giant Extra’s sales for full year 2016 were flat at US$1 billion. The company’s operating income fell 57% year-on-year to US$6.29m, with after-tax profits dropping to just US$560,000 compared to US$13.1m in 2015. Extra’s financial report showed that selling and marketing expenses were US$9.1m higher in 2016 compared to 2015, hitting US$120.9m.
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Souq.com opens service centre in Dubai
Middle East e-tailer and online marketplace Souq.com has whipped the covers off its first customer experience centre, located on Sheikh Zayed Road in Dubai. The move to open a physical space highlights the complexities of new omnichannel supply models embracing both offline and online. Souq.com claims that the new facility will make life more convenient for customers as well as sellers across the UAE.
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