By Vineetha Menon
Franchise agreement with Easa Hussain Al Yousifi Sons will see first Best Denki store open in Kuwait
Best Denki, a major Japanese discount consumer electronics retailer, will enter the Middle East market by opening its first store in Kuwait next year.
The franchise contract between Best Denki and Easa Hussain Al Yousifi Sons will see the first electronics retailer from Japan break into the Gulf market. Best Denki presently operates 600 stores in Japan with more than thirty outlets in other parts of Asia.
Scheduled to start operations in May 2009, the store will be located near Kuwait’s biggest shopping mall, the Avenue.
Kuwait News Agency reported that the store will operate under the Best Denki name and will carry a variety of Japanese, Korean and European consumer electronic products.
"Some of our five existing outlets will be remodeled as Best Denki stores," revealed Adel Easa Al-Yousifi, senior vice chairman of Easa Hussain Al Yousifi Sons, to KUNA.
Aiming to rake in annual sales of $21-30 million from the first store, the two companies also plan to open additional outlets in Kuwait over the next two years and will consider expanding to Qatar, Bahrain, Saudi Arabia and the UAE in the future.