12 °c
London
Friday, May 27, 2022
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Industry

LG to open 20 new stores as it seeks to grow East African market

The South Korean firm is opening new shops in four East African countries namely Tanzania, Ethiopia, Sudan and Kenya.

The Exchange by The Exchange
July 16, 2021
in Africa, FDI, Industry
Reading Time: 3 mins read
809 43
0
LG to open 20 new stores as it seeks to grow East African market
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

In response to the growing demand for home appliances, entertainment and air conditioning solutions in East Africa, LG Electronics has announced its plan to expand the region’s market.

The South Korean firm is opening new shops in four East African countries namely Tanzania, Ethiopia, Sudan and Kenya.

According to LG Electronics East Africa Managing Director Sa Nyoung Kim, the company will refurbish 20 shops and launch additional ones targeting an increasingly tech-savvy, an environmentally-conscious consumer seeking premium products to match their lifestyle.

Enhance customer experience

Nyoung Kim said the planned shops across the region will be high footfall, high-sales stores designed to enhance customer experience for the new technologies and products the company has to offer.

LG Electronics is also keen on the growing market for wearables, driven by lifestyle changes due to the Covid-19 pandemic.

These include OLED TV, InstaView refrigerator, TWINWash washing machine, Neochef microwave and Vivace AI-powered washing machines.

Kim also noted that LG Electronics is planning to expand further in East African region by growing its premium category and providing the kind of experience desired by customers.

“Over the last few years, we have been expanding our physical presence in the East Africa region. We plan to take this further by growing our premium category and providing the kind of experience our customers desire, be they individuals or businesses seeking first class technology with the right support,” said Kim.

Also read: Economic growth in East Africa to reach 3% in 2021: Deloitte

According to Kim, consumer trends point to steady growth in the business-to-consumer and business-to-business segments, with notable increase in purchase of premium products like refrigerators, TVs and washing machines incorporating the latest energy-saving technologies.

LG recently launched a second store in Dar es Salaam, Tanzania located at Mlimani City – in its strategic partnership with Mohamed Enterprises Tanzania Limited Group (MeTL).

The consumer electronics giant is currently rolling out a number of premium products in East Africa with the latest core technology featuring intelligent applications.

MeTL marketing director Fatema Dewji, said during the launch of the shop in June, 2021 that apart from being environmentally-friendly, the LG television sets, washing machines, refrigerators and other electronic equipment being distributed under their partnership arrangement were made of a new technology which uses less electricity.

Diversity and inclusion

These help households conserve energy, water and are environmentally-friendly and easily usable even by physically impaired persons, thus promoting diversity and inclusion, key Sustainable Development Goals.

With consumers spending most of their time indoors, music, film and gaming subscriptions have surged leading to strong sales of home appliances.

More people are also buying technology products for remote work and online learning as well as cooking and entertainment.

“It has become evident during the pandemic that technology is even more important in people’s lives, coupled with innovations that support efficiency and healthy living,” explained Kim.

Increased wearable sales

Sales of wearables have climbed as consumers engage in indoor activities like exercise to remain healthy while working at home. The LG PuriCare wearable air purifier signals the latest push by the company into the portable protection category.

Last year, LG also launched e-showrooms in Kenya in a bid to increase reach to tech-savvy consumers shopping for electronic appliances and devices online.


The Exchange

Related

Via: The Exchange
Tags: africaFDIforeign direct investmentIndustryLGLG ElectronicsLG to open 20 new stores as it seeks to grow East African marketOLEDOLED TVафрикаأفريقياアフリカ非洲
ScanSendShare341Tweet213Share60Pin77Send
The Exchange

The Exchange

News analysis and comment from the The Exchange, a leading publication providing economic news and analysis on the capital markets of Africa, with a specific interest in Kenya, Uganda, Tanzania, Rwanda, Burundi, Ethiopia and Congo. We provide features in banking, capital markets, energy, mining, manufacturing and industrial development.

Related Posts

Africa’s creative digital economy
Development

Africa must digitalize to achieve the 4th industrial revolution

by FurtherAfrica
May 27, 2022
Weekend – Arise Africa and Succeed!
Culture

Reflecting on Africa Day – post colonialization achievements

by The Exchange
May 27, 2022
Energy

Mozambique gas to contribute to world energy transition – minister

by Club of Mozambique
May 27, 2022
Private Equity

Phatisa and DFIs co-invest in Lona Group

by Africa Global Funds
May 27, 2022
Venture Capital

Ghana CarePoint raised US$10M bridge investment

by TechGist Africa
May 27, 2022
Angola Oil & Gas 2022
 
AFSIC 2022
 
Great Limpopo Transfrontier Park
 
MozParks

Translate this page

Read the Latest

Africa’s creative digital economy
Development

Africa must digitalize to achieve the 4th industrial revolution

by FurtherAfrica
May 27, 2022
0

Africa must develop high computing capacity to achieve the 4th industrial revolution, said Paul Tiyambe Zeleza, Associate Provost and Professor,...

Read more
Weekend – Arise Africa and Succeed!

Reflecting on Africa Day – post colonialization achievements

May 27, 2022

Mozambique gas to contribute to world energy transition – minister

May 27, 2022

Phatisa and DFIs co-invest in Lona Group

May 27, 2022

Ghana CarePoint raised US$10M bridge investment

May 27, 2022

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
Digilogic Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?