Spinneys 1961 Holding Expands into Saudi Arabia, Targeting Riyadh and Jeddah with Three New UAE Stores
Spinneys 1961 Holding PLC, a grocery store operator based in the United Arab Emirates (UAE), is set to enter the Saudi Arabian market, taking advantage of the country's development and growing demand for retail products.
The company's CEO, Sunil Kumar, announced that Riyadh and Jeddah are the initial targets for Spinneys' expansion into Saudi Arabia, with plans to expand further in the future.
Kumar emphasized the importance of delivering sustainable value to shareholders and customers during this growth process.
Spinneys currently operates 70 shops in the UAE, including 15 Waitrose locations under a franchise agreement and five Spinneys and Al Fair stores in Oman.
The CEO anticipates opening three new stores in the UAE this year, contributing to the company's ongoing expansion.
According to a report by Al-Khaleej, Spinneys aims to capitalize on the increasing demand for retail products in Saudi Arabia, driven by the country's development.
The company's strong brand reputation is a significant factor in its growth, both in the UAE and now in Saudi Arabia.
In summary, Spinneys 1961 Holding PLC, a grocery store operator with a presence in the UAE and Oman, is planning to expand into Saudi Arabia, targeting Riyadh and Jeddah as the initial entry points.
The company intends to continue delivering sustainable value to shareholders and customers while expanding its store network, which currently includes 70 shops in the UAE and five in Oman.
Spinneys expects to open three new stores in the UAE this year and plans to grow further in Saudi Arabia in the future.
Kumar emphasized the importance of delivering sustainable value to shareholders and customers during this growth process.
Spinneys currently operates 70 shops in the UAE, including 15 Waitrose locations under a franchise agreement and five Spinneys and Al Fair stores in Oman.
The CEO anticipates opening three new stores in the UAE this year, contributing to the company's ongoing expansion.
According to a report by Al-Khaleej, Spinneys aims to capitalize on the increasing demand for retail products in Saudi Arabia, driven by the country's development.
The company's strong brand reputation is a significant factor in its growth, both in the UAE and now in Saudi Arabia.
In summary, Spinneys 1961 Holding PLC, a grocery store operator with a presence in the UAE and Oman, is planning to expand into Saudi Arabia, targeting Riyadh and Jeddah as the initial entry points.
The company intends to continue delivering sustainable value to shareholders and customers while expanding its store network, which currently includes 70 shops in the UAE and five in Oman.
Spinneys expects to open three new stores in the UAE this year and plans to grow further in Saudi Arabia in the future.
Translation:
Translated by AI
