Kuwait the land of endless potentialAdditional information
How did ELKO EP start to develop activities, who is behind the birth of the branch, and what are the projects and goals? Mr. Mohammad Farhan ELKO EP Kuwait Branch Director will tell us more.
Everything started from the huge consumer need and the market gap in providing versatile, dynamic, reliable and affordable solutions.
„I was researching the Kuwait market from 2016 till 2018 looking for an optimal solution that would cover vast market segments, and cross-checking with international solutions providers. Just to discover that I needed more than just a good affordable product or a famous company, I have realized that there are far more sides to the formula where quality checks, service and support, technical and market feedback, innovation, vision, and of course management and leadership. So when I contacted ELKO EP and spoke with CEO & founder of ELKO EP Mr. Jiri Konecny I was very impressed by his company philosophy and vision for this sector. I visited the company and the factory in 2018 and that’s it. I saw the potential of a great business opportunity and filling this local market gap, it was a win-win situation.“ Says Mr. Farhan.
Who establishes and manages this branch? How many people work there?
From mid-2018 to 2019, I started the preparations to establish a branch in Kuwait where I needed to familiarize myself with the products and solutions, prepare a business plan to enter the Kuwait market and of course, hire and train a professional staff of two people at the beginning.
In mid-2019 we established our local company NEXTEK to introduce ELKO EP products and solutions which served us well in terms of creating many great references and strategically positioning and evaluating our progress in such a short time which made us ready to step up to the next level.
Unfortunately during the pandemic the whole world was suffering in many aspects and slowing down business activities all around the world, by internally we were working on optimizing our solutions, choosing strategic partnerships, and looking at the advancements in solutions that ELKO EP was creating even during the pandemic which it was a very positive thing, so technically we didn’t stop working, but we got ourselves ready for the big leap.
Post Pandemic we announced the birth of ELKO EP Kuwait in January 2023 and it was great timing when we managed to create a huge buzz in the market through attending and sponsoring events on the government level, private sector level, and among individuals.
Now we have a staff of 6 people and we are growing.
What do you sell, relays, RF, BUS, switches, or all together?
We started with the local market needs where we focused on wireless solutions and it was our successful market penetration strategy, then slowly we introduced BUS solutions combined with wireless solutions which gave us the advantage over many solutions, now we are gearing up to introduce relays through supplying our approved list of distributors and we are anticipating a good sales margins based on the market needs.
Who is your target group, and what are your projects?
In the private sector, we have approached consulting companies, contracting companies, lighting companies, and switchgear manufacturers. As for mid-range home owners we have taken tremendous feedback through events to create simple solutions that will cater to their needs. We have many projects on many levels, we did a project for the Ministry of Public Authority for Housing Welfare where we showcased cased iNELS energy monitoring solution. We also did a BUS solution for the Kuwait Society of Engineers that got over 3000 engineers as members of this society. We are working currently on providing solutions to Movenpick hotel, and some of its restaurants. Also, we have projects in the Avenues mall supplying lighting control to many retail shops like the famous CREED perfumes store. We also have high-end private villas for very well-known and famous figures in Kuwait.
How do you expect sales this year?
We are already seeing a spike in project estimates and activities, which of course will reflect positively on our sales, I think that this year will be a very good year for our branch in Kuwait.
How is the Czech Republic or Central Europe perceived in your region?
The Czech Republic is a very well-known country in Kuwait and the GCC area, Kuwaitis do appreciate the style, quality, and reliability of Czech-made products as a European brand, with a suitable price that lives up to the great value of their products.