Jumbo sees 2015 as challenging and unpredictable
Dubai: Dubai-based Jumbo Electronics expects 2015 to be challenging and unpredictable due to fluctuating oil prices, the status of the Russian rouble and strong dollar.
Vishesh Bhatia, CEO of Jumbo Electronics , told Gulf News in an interview on Wednesday that Dubai can survive because it is making huge investments and a big velocity of trade is taking place, and there are lots of visitors coming in.
“If visitor number falls for whatever reason, it may have an impact. So we are very careful and keeping a close vigil, and at the same time cautiously positive,” he said.
“We are very much ahead of last year for the last nine-months as we operated smarter by controlling our costs, moved fast to get new lines of business and focused on existing business more clearly,” he added.
For the fiscal year 2015 (April-March), the group expects turnover to be in excess of 25 per cent compared to last year and plans to open one Jumbo showroom and an exclusive Sony showroom at Yas Mall in Abu Dhabi.
The Sony- Jumbo venture opened the first Sony Boutique in the Middle East at Dubai Mall on Monday.Jumbo has a presence in other Gulf markets as well.
The group, which also went online in the UAE three months ago, said its online portal is slowly gaining traction.
Jumbo’s aim is to make its brick-and-mortar and online services equally accessible to the customer. By integrating the delivery and collection process, “we ensure that the two platforms work together and not as separate entities,” he said.
Does going online restrict Jumbo from opening new stores, Bhatia said “no”. “We are opening stores. With the high real estate prices and online presence, we don’t need to have 10,000 square feet shops now. [About] 2,000 square feet is sufficient now,” he said.
Distribution, managed services and business-to-business (B2B) are big fields of operation for Jumbo , he said, adding that retail sales only occupy less than 20 per cent of the company’s total business.
Jumbo’s B2B business focuses on areas such as print management processes, IT services and computer and copying supplies.
By Naushad K Cherrayil Staff Reporter
Original article
