Worldwide Distribution Center (WDC), which is headquartered in Dubai, announced that its gross revenue increased by 20% between January and April 2019.
WDC is one of the largest FMCG retail and wholesale distribution companies in the Middle East, specialising in supplying hair and body care products, perfumeries, soap and baby care items. The company supplies thousands of international, local and multicultural brands to retailers across the Middle East, Africa, East Asia and CIS.
The increase in revenue in the first four months of this year can be attributed to the company’s strategic expansion across Africa and East Asia, capitalising on the fast-growing personal care markets in both regions.
Dubbed the next consumer hotspot, sub-Saharan Africa is witnessing the second fastest economic growth after Asia-Pacific, with a population expected to double to 2.4 billion by 2050. A rising middle class and increased urbanisation in counties such as South Africa, Nigeria and Kenya is fueling the growth of the personal care market.
WDC founder and chief executive officer Khamid Ismatullaev said: “We have been the leading supplier of local and multicultural brands to retailers in Africa for a number of years and we have seen steadily growing our network across the continent over the past 12 to 18 months. We are seeing consumers in Africa becoming more sophisticated buyers, they are aware of global trends, brands and ingredients that are available internationally and this is resulting in an increasingly evolving market. We are regularly launching new products in Africa to keep up with demand. It’s a very exciting time for us.”
The company has been operating in the Emirates for almost 20 years and from its head office in Dubai’s Business Bay District, WDC has also been exploring new markets across East Asia including China, Japan, South Korea and Mongolia in recent years. Echoing Africa, there is a huge expansion of the growing middle class, particularly in South East Asia and in China, where it is expected to grow to 400 million by 2020.