Truebell secures FMCG contracts with Spinneys and Virgin Megastores
UAE-headquartered Truebell, a leading GCC importer of fast moving consumer goods (FMCG), has confirmed two new contracts as part of their hospitality division.
Spinneys and Virgin Megastores have signed deals with the company to supply premium household goods from KitchenCraft, a UK based kitchen supply expert.
This comes as the UAE’s retail market is projected to grow by CAGR 4.9% to over AED 259 billion by 2021, while Dubai’s retail market is expected to grow by 5.6% to AED160.7 million during the same time period, according to the latest research by Dubai Chamber of Commerce and Industry.
“The FMCG sector appears to be gaining traction and one of the few industries to show strong growth potential,” said Truebell director, Mohandas Puthiyapurayil. “This correlates with our own market research and as such has given us the confidence to expand our division, where we are already reaping the benefits.”
As part of the new contracts with Spinneys and Virgin Megastores, Truebell will initially supply a range of kitchenware from an extensive range, including products as diverse as bakeware and thermometers to espresso cups and cutters.
Plans are already afoot to increase the brand range with new announcements expected in the near future.
Puthiyapurayil, added: “The company has gone from strength-to-strength since it was established in 1984. Our expertise can be found across five key divisions which include food, beverages, hospitality, suppliers and retail duty free.”
“We now have a presence in 20 countries around the world with a portfolio of over 8,500 products, cementing our position as a leading importer, wholesaler, distributor and exporter in the GCC. Today’s contract win announcement for the hospitalities division further endorses our growth plans.”