eXtra expands network to reach additional 800,000 customers in Kingdom

01/04/2012

Khobar, Saudi Arabia; Janurary 04th, 2012: United Electronics Company (eXtra), Saudi Arabia’s fastest-growing consumer electronics and home appliance retailer, announced today the opening of its first stores in Al-Kharj and Jubail, bringing its nationwide presence to 24 outlets.

Demonstrating its commitment to meeting the needs of its customers across the Kingdom, the newly opened stores have been designed to meet the evolving needs of the populations of Jubail and Al-Kharj, currently estimated to be in excess of 800,000.

“eXtra’s success is built on placing the customer at the heart of our business,” said Mohammad Galal, Chief Executive Officer, United Electronics Company (eXtra). “The opening of our first store in Al-Kharj brings us even closer to our customers in the Central Region. According to independent research, the Central Region represents the Kingdom’s biggest market for consumer electronics and home appliances, with annual sales of SAR 7.36 billion. eXtra currently has seven branches in Riyadh and one in Burayda. The opening of the Al-Kharj store comes in direct response to the overwhelming response from our customers in the Central Region.”

“The opening of our first store in Jubail also marks another significant step in our long-term strategic growth plans, underscoring our commitment to serving Jubail’s population, which is currently estimated at 300,000. The Eastern Region is the Kingdom’s third-largest market for consumer electronics and home appliances, with annual sales of SAR 3.85 billion. At eXtra, our priority is to ensure the satisfaction of our customers, whether that’s in Jubail or at any of our 23 other locations across the Kingdom.” he added.

“As 2011 draws to a close, eXtra is now marking the opening of seven stores in the last 12 months, including in Hafr al Batin, Najran, Damman, Riyadh and Jeddah. With the opening of the first stores in Al Kharj and Jubail, eXtra brings it nationwide network of 24 stores. We look forward to further expanding our business in the Kingdom in 2012.”

Currently, eXtra provides the over 9 million customers it serves annually with more than 12,000 products across its 24 stores – serving almost 90 percent of the population of Saudi Arabia. In addition, eXtra recently introduced its online shopping portal (www.extra.com), a first-of-its-kind fully fledged electronics and home appliance website in the Kingdom.

eXtra was cited by the Saudi Arabian General Investment Authority (SAGIA) as one of the Kingdom’s fastest-growing companies in 2010 and 2011. The company was recently named, for the second consecutive year, as one of the top 50 brands in the Kingdom in recognition of its exceptional growth and sustained commercial success.