Israeli Electric Scooter Brand INOKIM Expands into 200 Retail Stores

Israeli electric scooter brand INOKIM is significantly expanding its presence in the domestic market through a new agreement with Electra Consumer Products. The brand's scooters will soon be available in approximately 200 stores across Electra's retail chains, including Carrefour, MASHBIR HAMALBIN (Makhsaney Hashmal), and Shekem Electric. This move marks a shift from INOKIM's previous sales model, which primarily relied on online channels and specialized stores.

The deal, reportedly valued in the tens of millions of shekels, is expected to boost INOKIM's sales in Israel, which currently stand at around 7,500 scooters annually. The company anticipates a potential fivefold increase in sales due to this expanded retail distribution.

INOKIM, which began in 2009 as MyWay and rebranded in 2014, has developed several scooter models like Light, Quick, OX, and OXO. The company highlights its status as the only Israeli electric scooter manufacturer to receive official certification from the Standards Institution of Israel. INOKIM also operates in international markets.

Electra Consumer Products, controlled by Daniel Zalkind's Elco Group, recently reported a substantial improvement in its second-quarter profits, despite moderate revenue growth. The group's revenue increased by approximately 1.7% to 1.8 billion shekels, while operating profit surged by 38.5% to 82 million shekels. This profit increase was achieved even without the one-time real estate valuation that had boosted profits in the previous year's corresponding quarter.