Latest news with #UAEExpansion
Zawya
30-06-2025
- Business
- Zawya
India's leading furniture brand Royaloak expands into UAE, tapping into region's growing home furnishing market
Dubai — Royaloak Furniture, one of India's largest organised furniture retail chains, has announced its entry into the UAE market as part of a broader international expansion strategy. With an operational history spanning over 15 years and a customer base exceeding 5 million, the brand has opened three stores in the UAE—located in RAK Mall (Ras Al Khaimah), Lulu Mall (Fujairah), and Silicon Central Mall (Dubai)—each spanning nearly 20,000 square feet. The move comes at a time when the UAE's furniture and home décor industry is witnessing steady growth, driven by a combination of increased real estate development, rising urbanisation, and a growing population of design-conscious consumers. According to industry estimates, the UAE furniture market was valued at approximately USD 5.1 billion in 2024 and is projected to reach USD 5.4 billion by 2033, growing at a CAGR of 4.18%. Royaloak's entry adds momentum to the region's expanding mid-to-premium furniture segment. The brand is known for its 'Country Collection' that showcases curated pieces inspired by American, Italian, and Malaysian designs. The company sources products from manufacturing hubs across Asia and Europe, aiming to balance aesthetic appeal with functional quality. 'Our UAE expansion is aligned with market demand and retail opportunity,' said Mathan Subramaniam, Co-Founder and Managing Director of Royaloak. 'What sets us apart is a vertically integrated model—from sourcing to distribution—which ensures both product consistency and affordability. With our dedicated warehouse in the UAE, we are equipped to provide fast, reliable delivery and a localised shopping experience.' The stores are designed to cater to a wide demographic—offering furniture for living rooms, bedrooms, offices, dining areas, and outdoor spaces, in addition to home décor and mattresses. Each outlet is supported by Arabic-speaking staff to ensure culturally attuned customer service. In tandem with its retail footprint, Royaloak has launched a dedicated UAE e-commerce platform, while also partnering with Amazon UAE and Noon to strengthen its omnichannel presence. The brand's UAE entry is not just an expansion strategy but also a commitment to job creation and customer-centric innovation in one of the Middle East's most competitive retail landscapes. The company plans further expansion across the Emirates in the coming year.
Zawya
26-06-2025
- Business
- Zawya
Equity gets shareholders' nod to open office in UAE
Equity Bank Group's shareholders have approved its plans to open a representative office in the United Arab Emirates (UAE), moving it closer to its first expansion beyond Africa in growth drive. Awaiting regulatory approval by the Central Bank of Kenya and the Emirati regulator, the representative office will enable Equity Bank to fund Kenyan and East African firms and investors with business interests in the Emirates and even for foreign traders, expanding its market base and customer portfolio. A representative officer is a physical presence for a bank in a foreign country that serves as a marketing and liaison point but is not allowed to conduct banking business such as deposit-taking or lending for local banking customers. The bank said the expansion into the Gulf nation is meant to enable it 'to facilitate business, trade and investment opportunities between East and Central Africa, the UAE, and the wider Middle East, India, Central and South Asia regions.''The establishment of a representative office in the UAE marks a strategic step in deepening regional and global connectivity. With our shareholders' continued trust, we are confident in our ability to drive meaningful transformation, sustainable development, and long-term value creation across the continent,' said Equity Group Chairman Isaac Macharia. Equity Bank will be the first Kenyan lender with a representative office in the Middle East, marking a major milestone for the country's financial industry. Currently, Equity has a representative office in Addis Ababa. The lender's shareholders also approved the proposed dividend of Sh4.25 per share, paving the way for the payment of Sh16 billion in dividends by the end of June. They also elected six new members of the board of directors – Faridah Khambata, Nick O'Donohoe, Aloysius Uche Ordu, Obadiah Barara, Lakshmi Shyam-Sunder, and David Mutombo.→ vogweno@ © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
