AKI appointed as the exclusive distributor for SharkNinja as it enters the UAE

Rhea-AI Summary

Al Khayyat Investments (AKI) has been appointed as the exclusive distributor for SharkNinja (NYSE: SN) in the UAE, marking the company's entry into the Middle Eastern market.

SharkNinja, renowned for its home, kitchen, and beauty products, will now offer its Shark and Ninja brands locally in the UAE for the first time.

This partnership leverages AKI's extensive industry expertise and infrastructure, promising enhanced consumer access to SharkNinja products. SharkNinja boasts over 4,500 patents and $4 billion in net sales, underscoring its innovative prowess.

AKI's new fulfillment center in Dubai Industrial City, set to open in fall 2024, will support this distribution effort. The collaboration aims to drive SharkNinja's international growth strategy, expanding its market reach in the UAE.

Positive

• SharkNinja's entry into the UAE market expands its global presence.
• Partnership with AKI leverages AKI's extensive distribution network and industry expertise.
• Access to AKI's state-of-the-art fulfillment center in Dubai Industrial City, opening in fall 2024.
• Potential for increased sales and market share in the UAE.
• SharkNinja's innovative portfolio supported by over 4,500 patents and $4 billion in net sales.

Negative

• None.

DUBAI, UAE, June 27, 2024 /PRNewswire/ -- Al Khayyat Investments (AKI) has been appointed as the exclusive distribution partner in the UAE for SharkNinja, Inc. (NYSE: SN) - a global product design and technology company – in a move that provides more consumers with access to the products that they love. SharkNinja products will now be available locally for the first time in the Middle East beginning in the UAE.

With a legacy dating back several decades, SharkNinja has transformed from an early-stage appliance pioneer into a portfolio of trusted, billion-dollar brands across 33 subcategories including home, kitchen, and beauty products. Powered by two core brands - Shark and Ninja - the company has a proven track record of bringing disruptive innovation to market with over 4,500 patents in force globally, five global innovation centres, and net sales in excess of USD4 billion.

Shark and Ninja products will now be available across the UAE through its partnership with AKI Consumer Goods, which has been a go-to-market partner and growth engine for global brands in the Middle East for four decades. SharkNinja will benefit from AKI Consumer Goods' specialised industry expertise, cutting-edge infrastructure, and best-in-class service teams. AKI Consumer Goods' expertise already spans a wide range of categories including food and beverage, health and beauty, fabric and home care, domestic appliances, and more.

"This is an incredibly exciting partnership for both SharkNinja and AKI. We have a proud legacy of introducing innovative products from around the world to our region, positively impacting people's lives every day. Together, we look forward to opening a new chapter of international growth for SharkNinja, delivering products and experiences that exceed consumers' expectations," says Zaid S. Al Khayyat, Managing Director of AKI.

Tom Brown, EMEA President, SharkNinja, adds: "We are thrilled to partner with Al Khayyat Investments to bring SharkNinja's ground-breaking products to consumers in the UAE. This collaboration marks a significant milestone in our international growth strategy, allowing us to reach yet another new market and deliver our exceptional Shark and Ninja innovative solutions to a broader audience. AKI's deep market and consumer expertise, as well as its robust distribution network make them an ideal partner to help us achieve our ambitious goals in the region."

SharkNinja is among the brands that will benefit from AKI's new fulfilment centre set to open in the fall of 2024 in Dubai Industrial City. The state-of-the-art hub will serve as a cornerstone for AKI's distribution businesses while delivering greater value to AKI's partners and customers in the region.

Founded in Dubai, UAE, AKI is a family-owned conglomerate regarded as a pioneer in several industries in the Middle East, employing approximately seven thousand people with a presence in the GCC, Iraq, Jordan, and Egypt. In addition to its legacy in consumer goods, AKI operates in sectors including pharmaceuticals, medical equipment, retail, fitness, automotive, environmental services, and contracting.

View original content:https://www.prnewswire.com/news-releases/aki-appointed-as-the-exclusive-distributor-for-sharkninja-as-it-enters-the-uae-302183616.html

SOURCE Al Khayyat Investments (AKI)

FAQ

What is the significance of SharkNinja's partnership with Al Khayyat Investments in the UAE?

The partnership allows SharkNinja to enter the Middle Eastern market for the first time, leveraging AKI's distribution network and industry expertise to expand their consumer base in the UAE.

When will SharkNinja products be available in the UAE?

SharkNinja products will be available in the UAE starting from June 27, 2024, as announced in the press release.

How will AKI's new fulfillment center benefit SharkNinja?

AKI's new state-of-the-art fulfillment center in Dubai Industrial City, set to open in fall 2024, will enhance the distribution and value delivery of SharkNinja products in the region.

What are the core brands of SharkNinja?

SharkNinja's core brands are Shark and Ninja, known for their innovative home, kitchen, and beauty products.

How many patents does SharkNinja hold globally?

SharkNinja holds over 4,500 patents globally, highlighting its commitment to innovation.

What is the estimated net sales of SharkNinja?

SharkNinja has net sales exceeding $4 billion, illustrating its substantial market presence.