Wednesday, May 13, 2009

RAK Ceramics launches 'Elegance Ceramics' to address supply gap in high-fashion products and designs

RAK Ceramics launches 'Elegance Ceramics' to address supply gap in high-fashion products and designs

New product line to further boost revenue base as profits grow 21 per cent to over AED 65 million in first quarter of 2009

May 13, 2009
RAK Ceramics, the world's largest ceramic manufacturer, has announced today (Wednesday, May 13, 2009) during a press conference held at “Raffles Hotel“ in Dubai the launch of "Elegance Ceramics," a high-fashion brand that caters to the needs and modern demands of its growing portfolio of elite customers in key markets around the world. The unveiling of Elegance Ceramics coincides with the announcement of RAK Ceramics' net profits exceeding AED 65 million in the first quarter of 2009, representing a remarkable 21.2 per cent increase compared to the same period last year, while sustaining the impressive overall performance in 2008 during which profit margins increased by 24.4 per cent to over AED 205 million.

Targeting a high-value niche market, Elegance Ceramics serves as a sublime "Ceramics Boutique" whose new concept opens fresh creative possibilities and expands the horizon for innovation to satisfy the unique artistic demands of select customers who are willing to pay a premium. Accordingly, RAK Ceramics has opened exclusive Elegance Ceramics Boutiques in Dubai, Abu Dhabi and Ras Al Khaimah to complement the RAK Ceramics showrooms. The new top-range products feature a distinct fusion of art and fashion through an extensive array of concept designs created by leading Italian designers.

Abdallah Massaad, Assistant CEO, RAK Ceramics said: "Elegance Ceramics is the perfect fit for customers with a distinctive taste in fashion, innovation and style. RAK Ceramics is keen to cultivate the immense potential of such a premium niche market as there has been an excellent growth in demand for high-fashion ceramic products and designs. With Elegance Ceramics, we have achieved greater flexibility to offer a more dedicated, diverse and personalised range of products and services."

"Elegance Ceramics delivers rich design concepts that cater to different tastes and conform to diverse lifestyles. Our products are certainly not just mere wall claddings; they ultimately serve as an inspirational fashion statement and a metaphor for the emotions of life itself. The launch of Elegance Ceramics truly expands our scope for creativity and innovation, which will seal our reputation as a leading trend-setter and fashion icon in the global ceramics industry," added Massaad.

RAK Ceramics, a USD 700 million global conglomerate, has achieved a compound annual growth rate (CAGR) of 22.7 per cent in sales revenues for the period 2004-2008, with net profits growing annually by 24.1 per cent. In 2008 alone, revenues exceeded AED 2.5 billion or a growth of 15.6 per cent compared to 2007, with the UAE manufacturing plants accounting for AED 1.924 billion of all revenues.

"The launch of Elegance Ceramics is part of a strategy to continuously expand RAK Ceramics' market base, create new revenue streams and ultimately increase profits. Moreover, it demonstrates RAK Ceramics' resiliency and its unique ability to remain focused on its goals despite the global economic challenges. We have performed exceedingly well in 2008, a highly delicate period that saw other companies sustain diminished sales and profits. More importantly, RAK Ceramics continues to showcase a positive performance this year as profits have now reached over AED 65 million in the first quarter of 2009 alone. These are clear indications that the company is in the right direction towards achieving another banner year," said Massaad.

RAK Ceramics has an installed capacity of 325,000 square meters per day for tiles and 12,000 pieces per day for sanitary wares, through 10 modern tile plants and two sanitaryware plants at its 2 million square metre manufacturing facility in Ras Al Khaimah. The company also owns manufacturing subsidiaries in Bangladesh, Sudan, China, India and Iran, along with subsidiaries in Italy, Germany, Georgia, France, UK, Australia and Saudi Arabia.

RAK Ceramics exports its innovative products and designs in ceramic tiles, Gres Porcellanato and sanitaryware to over 135 countries, targeting architects, project developers and retail customers. The company offers a perfect blend of technical finesse and aesthetics through 6,000 designs in ceramic tiles, Gres Porcellanato, and several models in sanitary ware.

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