SAVEX, the only retail exhibition designed to help retailers and distributors in the Middle East liquidate excess stock, will take place in two phases this year – between February 11 – 14, 2010 and April 29 – May 1, 2010 at the Airport Expo Centre in Dubai. The event which is currently in its fourth year, has nearly doubled in size since its inception in November 2007, in terms of number of retail/ brand participants, floor area and a turnover that touched AED 13 million last year. This year the organizers expect each of the two scheduled exhibitions to do a turnover of AED 15 million over three days which will be a significant increase over previous years.
Mr. Ramesh Chhugani, Managing Director, Reignite Advertising, organizer of Savex comments, “In today’s recessionary market scenario, consumers are putting off purchases of non-essential goods, resulting in retailers and distributors facing a build-up of inventories which creates pressure on the business cash flow. The problem is further exacerbated with banks today exerting extra caution and reducing lending limits to businesses, creating a further squeeze on liquidity. SAVEX is a platform that helps retailers and distributors find customers for their excess inventories, resulting in liquidation of stock and increased inflow of cash. End customers on the other hand get the best prices and deals, making it a fantastic value proposition for both parties”.
“Besides general public visiting the exhibition, we received feedback that there has also been a number of wholesalers from countries like Africa and the CIS who pick up stock in large quantities because of the attractive prices”, adds Ramesh.
Consumers visiting the show this year can expect to find around 40 retailers offering over 150 top notch brands of electronics, diamond jewellery, watches, fashion clothing, fragrances, footwear, handbags, sunglasses, sporting goods and other products at cost and in some cases even below cost price.
Some big name retailers like Paris Gallery, Ahmed Siddiqui, Liali Jewellery, Al Jaber, Lafayette, Rivoli, Emirates Computers, Jashanmal and global brands like Levis, Dockers, Acer, Giordano to name a few participated last year and a lot more retailers are jumping onto the bandwagon this year. Mr. Ooofrish Contractor, head of marketing at Liali Jewellery says, “Savex is a unique and wonderful initiative and the exhibition's growth over the last three years is indicative of its success. In the larger scheme of things, it gives a boost to the retail industry as a whole by fueling consumer spend. Our experience as an exhibitor has been very satisfying with a huge surge in sales during the three days of the show last year. We look forward to participating this year as well".
Samir Boghos of Time Bridge, a premier brand management company in the Middle East echoes the same sentiments as Mr. Contractor. "Savex is the need of the hour for retailers and consumers today and is very relevant especially in todays context of recession when most retailers are experiencing sluggish sales. The dates of the exhibition planned this year is perfect - coinciding with Valentine's day in February and pre summer holidays in April. It will give consumers a chance to celebrate both these occasions by picking up great brands at sensational prices", comments Mr. Boghos.
Commenting on his future plans for SAVEX, Ramesh says, “We plan to expand the exhibition to include retailers and distributors from USA, Europe, China, South Korea, India etc. We will soon create country pavilions to accommodate the larger number of retailers. We also plan to bring in new industrial product segments like automotives, interiors and bathroom accessories, cranes and machinery to name a few. We are in talks with DSF authorities to support our exhibition as we believe that an exhibition of this nature is in line with DSF’s overall rationale and will bring business visitors and business to Dubai”.