Staff Report
Korean Trade-Investment Promotion Agency (KOTRA) has joined hands with Sharaf DG, the leading specialty electronics retailer in UAE. As part of the agreement, Sharaf DG will promote and retail products from innovative startups at the Solution Bar zone inside its stores. Currently, customers can experience and buy these products from Sharaf DG Times Square Centre, Sharaf DG Deira City Centre and online.
On this occasion, KOTRA MENA Regional President Kwanseok Lee said, “Korean start-ups geared up with creative ideas and technologies, are now seeking to expand into global markets. The Solution Bar at Sharaf DG has given start-ups a platform to experience retail, collect customer feedback, improve their offerings and become world-class.”
This is the first time that technology startups are entering retail stores in UAE. Over 15 eye-catching and innovative products including smart bluetooth sunglasses, 3D motion tracking toothbrush for kids, portable air purifier, portable UV-C sterilizer and more. Lee added, “UAE is an early adopter of new technology not only through its own development but also through making investment in successful foreign companies. I anticipate this event to be the first step of cooperation between Korean Start-ups and UAE businessmen especially investors who have keen interest in technological innovations.”
Nilesh Khalkho, CEO of Sharaf DG said, “Solution Bar inside Sharaf DG is a space where customers discover new award-winning and innovative products. Startups experience Retail As A Service program, in which we display, demonstrate, collect customer feedback, market the product and sell. I welcome KOTRA and all the startups to Sharaf DG Solution Bar.”
All the startups at the Solution Bar get a live dashboard which shows the activities done by Solution Bar to market the products. Talking about the value provided to a startup Nilesh mentioned: “Traditional retail was all about selling a product to earn a commission or margin whereas Solution Bar is a media for startups to build their brand inside high footfall stores through discovery, curation and recommendation. By marketing to its 2+million customers, Sharaf DG offers over 5X Return on Investment to every startup who is at the Solution Bar.” -abdulbasit@theuaenews.com
