The world's second-largest apparel and footwear RFID tag company, SML Group, enters the Middle East, launching business development in the region!
Recently, SML Group, a global leader in digital ID and labeling solutions, announced the establishment of a new office in Dubai to launch its business development in the Middle East.
This expansion allows SML Group to bring its solutions to the dynamic and ever-evolving Middle East region, in order to grow its business operations globally and help clients take their brands further.
Dubai has a rapidly growing apparel and retail market, expected to reach a growth of $3.2 billion by 2027. Through this new presence, SML showcases its commitment to the region as the first company in the industry to provide label and RFID solution services in Dubai, helping customers grow quickly. Mr. Jia-Chee Lau, CEO of the SML Group, stated: "This is a very exciting moment for SML as we consolidate our business in the Middle East by opening a new office in Dubai. We believe this will make a significant contribution to SML's growth and success in the region." After years of research and experience in the region, SML has leveraged its strong global influence to deliver 150 million RFID tags, with over 100 stores in the Middle East using Clarity®. SML believes that now is the right time to strengthen its presence in Dubai. According to LabelJun, the founder of SML GROUP is Sun Shaowen, originally from Dongguan, Guangdong, known as the "Label King" of China, a "Distinguished Dongguan Businessperson" at the World Dongguan Entrepreneurs Conference, and a Justice of the Peace in Hong Kong. SML GROUP was founded in 1985, and after more than thirty years of development, it has become one of the top three global brand label service providers, with business operations worldwide. Its sales and customer service offices, R&D centers, and production facilities are spread across 24 countries, employing over 4,500 staff. The company's production locations are situated in countries where its brand clients' (RBO) major original equipment manufacturers (OEMs) are located, including Mainland China, Bangladesh, Vietnam, India, Indonesia, and Turkey. Most of SML GROUP's revenue comes from the sale of basic labels, followed by RFID solutions, including RFID tags and RFID system sales.
According to the Frost & Sullivan report, in 2021, based on revenue, SML GROUP was the second largest supplier of basic labels for the global apparel and footwear industry and the second largest supplier of RFID label products worldwide, with market shares of 2.4% and 16.7%, respectively.On January 9, 2023, SML GROUP submitted a prospectus to the Hong Kong Stock Exchange, intending to be listed on the Main Board in Hong Kong. The prospectus showed that in the past periods of 2019, 2020, 2021, and the first eight months of 2022, SML GROUP's operating revenues were HKD 2.926 billion, HKD 2.611 billion, HKD 3.437 billion, and HKD 2.326 billion, respectively, with corresponding net profits of HKD 94 million, HKD 25 million, HKD 203 million, and HKD 139 million.