eXtra opens new store in Najran, 19th in Saudi Arabia

06/20/2011

eXtra opens new store in Najran, 19th in Saudi Arabia

• 1,700-square-meter store to serve 300,000-strong population of Najran and surrounding areas
• Kingdom’s fastest-growing consumer electronics retailer to open five more stores in 2011, covering more than 70% per cent of Saudi population
• New stores in Jubail, Jizan and Dammam to open soon

United Electronics Company “eXtra”, Saudi Arabia’s fastest-growing consumer electronics and home appliances retailer announced today that it has opened a new store in Najran, one of the most rapidly expanding cities in the Kingdom. The 19th eXtra store in Saudi Arabia, this 1,700-square-meter outlet has been designed to meet the evolving needs of the population of Najran and surrounding areas, currently estimated to be in excess of 300,000.

The new store in Najran has been modeled after the company’s successful branch in Tabouk. With more than 3,000 different items for sale, their store in Tabouk managed to gain an 8% market share of Tabouk city just five months after the opening, servicing more than 220,000 shoppers – equivalent to 43% of the total city population. Like Tabouk and Najran, eXtra has entered relatively small cities in the Kingdom with a specially-tailored store format in order to most effectively serve its customers.

The opening of eXtra’s 19th store in the Kingdom follows the launch earlier this year of the company’s seventh branch in Riyadh, the Saudi capital. According to Mohammad Galal, Chief Executive Officer, United Electronics Company (eXtra), the company plans to open five more stores by the end of the year, bringing its total country-wide network to 24.

“We are extremely pleased to announce the opening of our first store in Najran in the Kingdom’s southwest area, demonstrating our unmatched commitment to meeting the needs of our customers – wherever they are and whenever they need us,” Galal said. “We continue to focus on sustainable expansion, and look forward to further store openings, including in Jubail and Jizan, in the months to come.”

Currently serving more than 70 per cent of Saudi Arabia’s population of more than 27 million, eXtra is one of the Kingdom’s top 20 fastest-growing companies, according to recent ranking by the Saudi Arabian General Investment Authority (SAGIA). Offering over 12,000 different products – including an enormous range of leading international brands – eXtra has more stores and more products than any other consumer electronics retailer in Saudi Arabia.

“Founded just seven years ago, eXtra is today three times the size of its nearest competitor, serving 8 million shoppers annually,” Galal said. “While our unmatched geographic reach and vast product lines are great strengths, however, we know that the true source of our success is the people who stand behind our brand, and whose highest priority is to ensure the satisfaction of our customers – whether that’s here in Najran or at any of our 18 other locations across the Kingdom.”