The strategic vision of Eros in entering the fiercely competitive IT business was based on the dramatic changes that were happening in the consumer space both in terms of the type of products being launched as well as consumer purchase habits. The evolution of organized retail as a strong channel for consumer centric IT products requires a different set of skill sets and channel management capabilities which Eros is well positioned to provide.
This Business Group at Eros brings with it new avenues, revenue streams, additional set of stakeholders, and last but not least – enough high voltage action!
IT Business Group, which is also the parent group of Lifestyle Business, was formed in 2009 with the belief and foresight of Eros Management that this business offers tremendous consumer connotations. It also highlighted the synergy in extending our expertise in organized retail distribution. To begin with, we were privileged to be chosen by Samsung as well as Linksys Consumer Business Group to exclusively manage the Organized Retail channel in UAE. It has been an exciting journey so far, and equally gratifying, to see Samsung Notebook PCs earlier, followed by Tablets amongst the top brands in retail space. This becomes special when one reckons that only a few years ago, Samsung was a beginner in this fierce IT sphere. With the addition of Lifestyle Business Group, we have given due focus to wireless products as well as accessories. Linksys, world leader in Networking products, has been extremely successful with us, and enjoys top notch visibility and market share across UAE. We are excited about the next growth driver in Home Audio, which is Wireless Streaming music. We have picked up traction with SONOS – world leading wireless multi-room Wi-Fi system that is already spearheading the way people access and listen to music from across the world. Besides this, our Foscam IP cameras have picked up, with consumers praising its performance and value-for-money proposition.
One important aspect that has taken us thus far is the ingrained ‘Eros way’ to do business, which is not a box-moving chore but a well-planned retailing exercise, based on our rich experience in this market doing consumer electronics for close to five decades. The IT and Lifestyle team comprises of enthusiastic individuals with varied IT background within UAE, and complements the Group’s expectations well. In addition, we continue to explore and evaluate product groups and brands that complement our business and strengthen our portfolio as IT and Lifestyle products to the retail customer. HAMA is one such leading brand which has been acquired by us recently, and is a top notch maker of IT, Mobility, AV, Gaming and Photo accessories with headquarters in Germany.
In this business, owing to the constant emergence of newer and faster technologies with sleeker and better hardware, obsolescence is fast; so it becomes critical to move quickly, within a defined time frame. That’s what makes it a little more exciting as well as challenging – which we have learnt to adapt as ‘thrills at workplace’!