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UAE Freezones Biz News Updates
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UAE-based Al Nassma to take camel milk chocolates to airports worldwide
Company’s revenue is expected to grow by 40 per cent during the first half
of the year
Al Nassma, a UAE-based manufacturer of chocolates containing camel milk, is
taking its premium products to duty free outlets across the globe for the
first time, after a tie-up with Germany-based Gebr. Heinemann, a travel
retailer.
Launched in 2008, the manufacturer is present in the Gulf Cooperation
Council (GCC), Far East, Europe and the US. In the region, its products are
sold in specialty shops, 50 hotels, such as the Emirates Towers hotel and
Burj Al Arab, and 10 airports. Globally, the company’s products were only
found in specialty shops and department stores.
Under the tie-up with Gebr. Heinemann, Al Nassma expects to have its
products in 10 more airports this year, Martin van Almsick, the company’s
general manager, told Gulf News in a phone interview on Monday. He estimates
the global duty free retail market to be valued at $50 billion, with
confectionary contributing 10 per cent of that.
Al Nassma chocolates were rolled out in duty free outlets in Istanbul’s and
Vienna’s airports last week, and will be present in Kuala Lampur’s duty free
outlets in the short-term, van Almsick said.
He expects the company’s revenue to grow by 40 per cent during the first
half of the year compared to the corresponding period a year ago. The UAE is
the company’s largest market, accounting for half of its turnover.
According to van Almsick, the manufacturer is in a good financial position
and, despite the expansion, is not looking to issue a bond at present.
Each Al Nassma chocolate bar costs around Dh30. The company sources the
camel milk in its chocolates from the Emirates Industry for Camel Milk and
Products (EICMP). Dark chocolates could have 2-3 per cent camel milk, while
milk chocolates are likely to have 25 per cent camel milk, van Almsick said.
He said concerns about the Middle East Respiratory Syndrome (Mers), which is
found in camels, have not had an impact on the company’s sales.
June 24, 2014 |
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Courtesy Al Nisr Publishing LLC
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