UAE-based Jumbo Electronics, an IT, telecom and consumer electronics retailer and distributor, and the flagship company of the Jumbo Group has announced it has completed 40 years of operations in the Middle East and Asia.
The group has witnessed a sales surge in its 9-month operations from April to December 2014, recording a growth of 25% compared to the same period the previous year.
The Group said it is now well-positioned to report a record sales turnover of AED5bn ($1.3bn) for fiscal year 2014/2015.
Founded by Manohar R Chhabria, the first Jumbo Electronics retail outlet opened in 1974 in Dubai’s bustling commercial district Bur Dubai.
Vidya Chhabria, chairperson, Jumbo Group, said: “Jumbo Group’s growth story is the reflection of the vision and enterprise of my husband, who established what has today matured to become a multi-discipline conglomerate. His core values of entrepreneurship, integrity, innovation and efficiency continue to be emulated by our management and staff and we are proud to arrive at this milestone 40th year of operations with business on a steep incline.
Jumbo Group’s strategy to reach new heights has been realised through expanding and reinforcing its core business of distribution, retailing and trading.
Vishesh Bhatia, CEO, Jumbo Group added: “Jumbo has always preserved its integrity as an efficiently-run business, with a strong bias for customer-centricity, underpinned by robust corporate governance, learning and development, and effective internal processes. As we celebrate our 40th year anniversary, the drive to become bigger and better is stronger than ever. Our growth strategy envisages doubling net revenues by 2020.
Bhatia added that the company recognises the high ambition of this goal, but under the guidance of Vidya Chhabria, with the dedication of the teams and significantly, and the continuing inspirational leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the company sees no reason why this dream cannot be realised.
