GCC marketing strategy for a top U.S. Multinational.
A revolutionary market-entry strategy for OXO (high-end kitchen utensils and homeware).
Goals
- Enter premium retail points of sale.
- Take market share from well-established competitors.
- Reach USD 1 Million in the first year of operation.
Obstacles
At the time, all international brands were competing to lease space in Dubai’s limited number of premium shopping malls. Waiting lists to lease a shop went well over one full year.
The investor was a U.S. citizen with extensive background in I.T.; and he had newly relocated to Dubai. The client had an agreement with OXO to inaugurate the first 2 stores in Dubai by year’s end or lose his license.
Analysis
A highly attractive business case and prospectus were needed to attract the interest of leasing managers in Dubai’s premium malls. But even armed with a very strong pitch, the limited stock of retail space forced many multinational brands to wait for a long time.
In order to enter the market successfully before the contract’s expiry date, out-of-the-box thinking was critical, and a new business model had to be developed as a contingency plan.
Actions
- Conducted marketing due diligence.
- Conducted competitive analysis to identify market gaps and strengths and weaknesses of the competition.
- Created a highly compelling business case and sales pitch that compelled leasing managers to contact the investor (instead of him getting in touch with them).
- Where leasing a shop proved difficult, the client won approvals to lease large kiosks.
- Pioneered the concept of launching an online store for high-end kitchen utensils in the GCC. OXO was one of the leading brands to venture into e-commerce at that time.
- Were assigned as interim manager of the project.
Results
OXO established presence in brick-and-mortar shopping malls when possible, and pioneered online sales in the GCC at the time.
OXO launched its first store in Dubai in 3 months after we got involved in the project.
A few months after that, demand from other GCC markets, Syria and Lebanon started coming in and an export network was being built. In its first year of operation, OXO reached UAD 2.7 Million in sales instead of the original USD 1 Million originally forecasted.
OXO Dubai was acclaimed by OXO’s global brand VP for its innovative approach.
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