Philips signs agreement with Saudi retail giant

Philips Lighting Saudi Arabia, the global leader in lighting, has signed a strategic distribution agreement with Ahmed Abdulwahed Trading Company for its LED (light-emitting diode) and home consumer offering. The evolution of LEDs have changed the industry with innovative new applications, offering significantly greater connectivity, durability and energy-efficient light source.
Wael Gad, CEO of Philips Lighting Saudi Arabia, said: “We are thrilled to sign an agreement that represents a milestone and turning point for serving the end consumers better in the Kingdom. This partnership will give consumers easier and greater access to LED and home products, providing them more energy-efficient and environmentally-conscious lighting,” he added.
The agreement comes at a time when austerity measures by the Saudi government are calling for conscious consumption and elimination of wasteful usage of energy and electricity.
Asked about the misuse of energy, Gad said: “Lighting in house and retail outlets is responsible for 17 percent of electricity use in the Kingdom. The global average is 15 percent, presenting a key area for energy conservation or usage of energy-efficient appliances at homes, in offices, and public places.”
He said the Kingdom is aiming to reduce these dependencies by reducing the size of the subsidies offered on energy and other household services. “The Kingdom is an important market for us, we manufacture locally — operating three factories — and work closely with the local authorities to enhance the LED offering,” Gad added.
He pointed out that the LED lighting (from reputable brands) is proven to be five times more efficient than most halogen bulbs and lasts ten times longer than the traditional light bulbs.
“Philips is committed to remain a trusted partner for the Kingdom and as a supplier of sustainable energy efficiency technologies to meet the goals of Saudi Vision 2030,” he added.
Yaser Ahmed A. Anam, chief operating officer of Ahmed Abdulwahed Co., who signed the agreement on behalf of Ahmed Abdulwahed Co., said: “We have been dealing with several brands, we serve retail channels including shops and supermarkets. We have our own network of 55 retail shops in 20 cities, and hence we have more focus on retailing.”

Source: Arab News