Union Co-operative Society's deal with Sharaf DG to open its new store at its hypermarket has ramped up competition in the emirate.
UAE-based electronics retailer Sharaf DG has opened its 25,000ft² at Union Co-operative Society's hypermarket on Dubai's Al Wasl Road, after signing a strategic partnership with the retailer.
The deal has expanded the chain's burgeoning real estate, including stores at Dubai's Times Square Centre, Ibn Battuta Mall, Deira City Centre, The Dubai Mall, Abu Dhabi Duty Free and Bahrain City Centre. The partnership will enable Union Co-operative Society, backed by an extensive range of electronics at the store, to contend with hypermarkets in the city such as Lulu and Carrefour.
"Despite the current gloomy market sentiment, Sharaf DG has been witnessing a steady growth in sales, primarily on account of our attractive promotions, exhaustive product range, lowest price guarantee and excellent customer service," said Nilesh Khalkho, CEO, Sharaf DG.
According to Khalkho, the success has encouraged the retailer "to continue with our ambitious expansion plans even though other companies are scaling back their operations.
He revealed that "we hope to extend this co-operation to other Union Co-Op branches in time to come".