Publication: Estesmarat Magazine (Arabic) Spokesperson: Suchit Kumar, CEO of TEXUB
At the outset, could you tell us a bit more about TEXUB. What are the services provided by the company, and when was it established? Is your regional headquarters located in the UAE?
Our TEXUB model is a non-subscription-based business that provides verified buyers and sellers with unlimited access to commercial business and IT transactions. Sellers can easily upload multiple products on the platform and sell them globally across multiple hubs, with the flexibility to set geographical limits if necessary. Buyers can expand their supplier base by purchasing globally at competitive prices. The platform assists businesses, both large and small, in establishing themselves in worldwide marketplaces and provides prospects for expansion by diversifying their sources.
We began planning TEXUB about two years ago, at the outset of the COVID-19 pandemic, after observing how people started focusing more on E-commerce platforms, and digitalizing business through the internet.
Headquartered in Dubai, TEXUB serves as an ideal channel facilitator as it overcomes the physical limitations of customer reach.
- Why in Dubai? In other words, what is Dubai’s attractiveness to IT companies? Is it facilities and work environment or legislation and information infrastructure?
Dubai is the ideal location for us to position ourselves as an online global marketplace. From Dubai, one can reach any part of the world within just 8 hours – give or take a few more. Being set in the heart of a global trading hub such as Dubai, TEXUB ensures international connectivity within the IT and Mobility sphere.
- Could you tell us a bit more on this business sector especially after some revolutionary changes over the last two decades in e-commerce.
Within the last 15 to 20 years, brands have decided to connect directly with their customers. Either they reduce their margin structures, or they attempt to move ahead in a customer-oriented direction. At the same time, if you look at the history of commerce within this region and the shift to E-commerce now, this new generation is not accustomed to conducting business in the same manner as their predecessors; instead, they are transitioning from legacy systems to smarter technologies.
- What are the expansion plans in the next stage?
The growth that TEXUB will see is through people. We are based in multiple countries worldwide, with offices in the UAE, USA, India, Netherlands, Nigeria, and Singapore. We are also implementing manpower in countries where we don’t have offices yet so that we can still start onboarding and connecting people.
- Has the Covid-19 crisis contributed to the world’s trust in e-commerce?
The COVID-19 crisis has definitely contributed to the world’s trust in E-commerce, and it has also been the facilitator of the world’s ability to trade over the last two years during the pandemic. Had it not been for everything getting digitalized, maybe 5x or 7x times faster than the normal pace it was moving at, things would not have been available to a lot of the world. Therefore, COVID has most certainly contributed to the world’s trust in E-commerce.
- How will the organizations achieve cost savings in business operations and sales?
Most of the tech platforms that conduct their businesses on a valuation game, look at no profit but negative. But in our model, we are a profitable organization because we make a margin on every sale that happens, so we do profit from each trade. As far as our operational cost goes, yes, it is going to be higher initially as the CapEx and OpEx will be high in the first two years of operations. However, once we have initial costings, and as the business and revenue grow, the cost will automatically get optimized to a large extent.
- What do you think is the future of the IT market and contributing to pioneering the way for conducting digital business?
Statista notes that in the run-up to 2026, the compound average growth rate is going to be about 14% a year in B2B, and the IT segment is going to be about 26% of the overall business.
- Is your company moving to include Artificial intelligence logistics and e-commerce?
Yes, AI is going to be the domain of the tie-ups we do with our logistics operators, and as the business grows, we will decide on AI within the portal itself. Yes, we would at some stage add AI once we have enough traction because the AI actually determines buying behaviour and patterns. For example. if somebody has put up 500 pieces of a particular product online at a higher price than the market, the AI is able to actually send a message back to them informing them their pricing is such that they may not be able to make the sale because there is a competitor offering the same at a lower price. However, if you don’t have this data on board, then AI is not of much help. So, it will have to come at the next stage.