These two products are the new innovation from Philips; you will not find similar products in the market. Phillips has been known for its quality and innovation for making difference against competition, and it is very important to show what kind of innovation you have. We learned that females care about their beauty and radiance, and for that we are presenting the 'Visapure'. 'Visapure' is a very interesting product that will help you clean your face and make it more radiant and healthy. The 'lumea' is almost like since fiction, very innovative product; it's an IPL hair removal system that removes unwanted hair by light therapy. Nothing like it was available in the market before, it is a very good product that is so beneficial to all women. We are very proud to announce these two products that are going to add a lot to the Egyptian consumers.
I came to Egypt in a very interesting time, April 2011, just after the revolution. I actually had plans to come in January but I had to postpone my journey because of what was going on. When I came Egypt, the economical and political statuses were not easy. I can describe the situation in Egypt as a roller coaster; I really didn't know what kind of direction it would go to from a political point of view. From an economical point of view, the Egyptian market is a very big market, and whether there is a revolution or not, it will stay a big market. Egypt is of strategic importance, it played a leading role in the past and continues playing a leading. The stabilisation happening will tell you that the consumers confidence is coming back and in Phillips, we are determined to stay in Egypt. Egypt has a very bright future and we want to play a role in that.
It is clear that we have many good quality brands, but what we are really strong about is our innovation. What we try to do, based on consumer insight, is to bring new products to the market that will help the health and well being of our consumers. We play in different kind of sectors with different kind of technologies that will help in increasing the well being of our consumers. Our aim goal is to deliver innovation.
Phillips is a stand-alone competitor by innovation. We have been here in Egypt since 1930. We have factories here and we are a well-known brand. People know us because the products we present deliver quality, but the differentiator is the innovation. You will never win if you only copy, you will win if you stand-alone, you need to differentiate from other places and 'Lumea' and 'Visapure' are the best example of what we stand for.
I understand that there is doubt, but for me there is no doubt. I think that we will face a lot of hard circumstances, but I think we are going in the right direction. I have high hopes for this country. Egypt is part of Africa and Africa is the new China. All the big multinationals are now moving directions to Africa. Egypt is part of the key players in Africa, with its large populations, relatively well developed, knowledge and the strategic situation, Suez Channel, hence and forth this country could only have a bright future.
I think stabilization is critical to have recognition. The country needs other countries, like any country, but also for any investors, stabilization is critical. Stabilization for this country is the key word, if it is provided; Egypt will make progress and will be one the leading countries.
In my point of view we just started. There is a lot to do, we want to be Local Relevant for this country. Of course our products are global introductions but we want to localise them. We want to know what the consumers need, we want to market in the way the consumer wants, we want to launch more products. We had very successful introductions in the past in Egypt and we will continue. The more successful we are the more we will invest, the more people will start to work for Phillips, the more we can increase knowledge, and we will help each other.
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