GreyOrange has announced its plan to expand into the Middle East market. The company will cater to the fast growing Retail, Consumer and Packaged goods and e-Commerce sectors with its state-of-the-art warehouse automation solutions for inventory management, order profiling and sorting. GreyOrange’s entry into the Middle East will mark yet another milestone in the company’s strategic foray into new geographies which began last year with the company expanding into Hong Kong, followed by Japan earlier this year and most recently foraying into China market. The company is currently looking for suitable partners and business associates for the expansion.
The Middle East market is seeing a rapid emergence of e-commerce, retail, and consumer goods brands from all over the world. With over 85% people accessing internet in the Middle East, e-Commerce is expected to grow tremendously in this region, reaching approximately $51.4B in revenue by 2017 (according to ystats.com) A growing young and enterprising population in Middle East will also add to the consistent retail YoY growth of over 4.5% for the next four years. However, this immense growth opportunity comes with several operational challenges such as increasing complexity, scale and cost of supply chain logistics, growing customer expectations, emergence of newer business models, all leading to the need for data driven processes. The Middle East also faces a major manpower challenge in terms of availability of the right skills, as well as the growing costs of manpower. GreyOrange’s robotic automation solutions address these challenges by helping organizations seamlessly transform and optimize their supply chains to minimize operational inefficiencies, reduce order fulfilment cycles and operational errors, optimize real estate, and help companies improve the overall experience for their end- customers.
Samay Kohli, CEO and Co-Founder, GreyOrange Pte Ltd said, “The Middle East is an important market and has enormous potential for us particularly due to the emerging e-Commerce sector. The industry is set to grow at a staggering 300% CAGR over the next 5 years. The market will see the entry of several global players looking to develop extremely efficient, effective and scalable supply chain operations. With the tremendous success GreyOrange has already seen in e-Commerce in Asia and India, we are confident that we will be able to replicate it here and play a crucial role in helping the e-commerce players across the market grow.”