Channel Post speaks with the Founder and Managing Director of specialised security distributor, Spectrami, Anand Choudha on the company’s exponential growth plans.
In a market, where many established players have burned out in recent times, tell us how has Spectrami managed to not only stay in business but also grow itself from nowhere?
Since day one, the key element for our success has been optimization of resources, both internal and external. We took a conscious decision to be self-funded and not rely on borrowed money for growth, which resulted in better margins and sustainability.
We have also been extremely careful about selecting partners. We did extensive market study while scouting for vendors and performed high level of due diligence before finalizing any engagement with channel partners. This exercise that helped us partnering with right partners and also not exposing ourselves beyond our means.
Recently you have announced entering European market, what are your plans for Europe and how do you intend to establish your mark in such an evolved market?
It has always been our endevour to expand into Europe once we had created a strong footprint in Middle East. We have successfully established ourselves in the region with active presence in a number of countries across GCC.
Last year we joined hands with UAE based investment company KBBO group, and the main aim for this partnership was to inject capital to amplify growth in a new trajectory. The investments from KBBO have strengthened our position further in market and allowed us to expand beyond Middle East. As expanding into Europe was already part of our roadmap, we have now established an entity in UK that would serve as the headquarters for Europe and also appointed a Sales Director for Northern Europe to oversee our expansion in UK and mainland Europe.
We are looking to acquire few mid-level distribution companies in Europe and consolidate them to become a dominant player in the European market. Our plan is to grow inorganically in Europe for next few years. We are already in different stages of negotiation with some distribution companies and hope to conclude some deals soon.
What would your entry into Europe mean for Middle East?
The only impact that we see on Middle East from entering Europe will be a positive one as the move will enable us to offer bigger market reach to our vendors across EMEA region.
On other hand, expanding in Europe will have no bearings in this region. Middle East region is independent in its operations and also in its approach. We will keep pace with the market momentum by investing in resources to grow Middle Eastern business and increase our channel presence across the region.
What is your roadmap for growth and what are your plans for Africa?
We have been witnessing consistent year-on-year growth and despite economic downturn, we had good business returns in 2016. This year we are looking forward to grow reasonably well and are targeting to achieve 50 per cent growth in Middle East. However, once we have established our presence in Europe, we are expecting multi-fold growth at EMEA level and are expected to clock a turnover of $100 million in next three years.
Not to miss on opportunities provided by the African continent, we are planning to enter Africa directly once we consolidate our business in Europe and are able to further strengthen our foundation in Middle East. Africa is a key market for future and with our spread across Europe and Middle East we believe it will be much more feasible for us to service our vendors and channel partners in the African continent.
