Spar International has expanded into the Saudi Arabian retail market, opening three large new stores in the country’s capital, Riyadh.
In partnership with Saudi conglomerate Al Sadhan Group, Spar plans to open five more stores in 2018, with the aim of having a total of 40 in Saudi Arabia by 2020.
Spar says that its first stores in the country will be aimed at the mid-to-premium sector of the market, but the group plans to launch retail outlets across all economic sectors as the brand develops in the future.
Strategic Expansion
These openings will also build on the retail group’s operations in the wider region, including the United Arab Emirates, Oman and Qatar.
“With a growing young population, rising GDP, and increased consumer purchasing power, the retail market in Saudi Arabia has been growing steadily,” said Tobias Wasmuht, managing director of Spar International.
“The new partnership provides Spar with yet another important base in the Middle East – a region that is becoming more and more important to Spar International’s strategic business development,” Wasmuht continued.
Mohammed bin Abdul Aziz Al Sadhan, the chairman of Al Sadhan, added that the partnership is in line with the support that his company has received from the Saudi government for the development of the local retail market.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
