DUBAI, UAE / ACCESSWIRE / February 9, 2021 / A collaboration between Brands For Less Group (BFL Group) and IQ Robotics will enhance the e-commerce industry internationally by offering better and more efficient shop fulfillment. The COVID-19 pandemic has caused a surge in online shopping, with its effects projected to last well into the future. This irrevocable shift has also caused various companies and businesses to rethink their strategies. This multi-million-dirham deal with a Dubai AI robotics supplier is a step forward in the right direction.
The CEO of BFL Group, Toufic Kreidieh, believes that, "By partnering with IQ Robotics, we are able to leverage faster turnaround times of injecting newness in stock back onto our retail shelves, especially considering that increased volume capability is necessary to ensure we provide this same experience consistently on a larger scale."
BFL is the world's leading off-price retailer of fashion, homeware and toys, three of the largest industries in retail. The company was first opened in Beirut, Lebanon in 1996. Upon moving to the UAE, four years following their debut, they have reaped their success in Dubai ever since, all the while giving back to the community with constantly refreshed inventories at great deals.
A leader in retail and e-commerce, the company seeks to expand its reach and efficiency with the 160 robots that they will be procuring from IQ Robotics. Each robot is estimated to have the processing power of 150,000 pieces a day. This will not only accelerate its efficiency; it will also further improve on the retailer's digital strategy as well as shop fulfillment. IQ Robotics positions itself as an authoritative figure in a new and innovative trend, offering solutions to deal with the large increase in demand throughout the sector of retail shopping and all things e-commerce.
Fadi Amoudi, the CEO of IQ Robotics is confident in their partnership with Brands for Less. He mentions how both of them will be able to grow together as "our roadmap towards a stronger and more advanced emirate" is realized. He isn't the only one with high hopes for their collaboration, and neither does he believe that he and his partners are the only ones in the business to benefit from his technology and business model.
BFL Group Co-founder Toufic Kreidieh highlighted the importance of the partnership to UAE's national strategy.
"It gives great pleasure to align our mission with national strategies that seek to not only cement Dubai's global position as one of the smartest cities, but to also invigorate the national market to make the emirate one of the fastest to recover from the pandemic in the world."
Aside from their robotics investment, Brands For Less Group committed another $12 million to build a semi-automated conveyor system for their ecommerce facilities. Kreidieh and BFL Group co-founder Yasser Beydoun are visionaries when it comes to retail and business ventures, and they stand firm in their morals as well as vision that gave birth to companies that are focused on value and quality. Yasser continues with, "Our vision has always been to maximize our consumer reach across the world, starting with a growth plan focusing on a natural expansion of our footprint to cover the MENA region, followed by Central and Eastern Europe."
Company co-founder Yasser Beydoun predicts that BFL's online presence will only continue to grow, with a projected increase of up to 50 percent in the next five years.
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SOURCE: BFL Group