Tuesday, July 16, 2024
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The CEO of Spinneys Outlines Plans for Saudi Retail Growth Following the Opening of a flagship Store in Riyadh.

RIYADH: Spinneys, a supermarket chain based in Dubai, opened its first location in Saudi Arabia at La Strada Yard in Riyadh.

In an effort to meet the growing demand for premium grocery options throughout the Kingdom, Spinneys has launched an expansion strategy in Jeddah and the capital city of Riyadh, opening its flagship 43,520-square-foot store in a newly constructed mixed-use development.

According to the company, its first store will provide a “premium shopping experience” featuring a large assortment of international brands, locally sourced goods, imported goods, and an exclusive private label selection.

We made our goals in the Kingdom clear during our initial public offering (IPO), and they are now being realized. Spinneys CEO Sunil Kumar told Arab News, “We see a massive whitespace opportunity in Saudi Arabia, with sectoral growth supported by favorable macroeconomic and consumer trends.”

He stressed a growing demand in the neighborhood grocery market for a high-quality, freshly made product that falls neatly within their area of expertise.

He declared, “We think that by entering Saudi Arabia now, we are gaining an early mover advantage in establishing Spinneys as the preeminent premium grocer. According to Kumar, the company has high expectations for its first location, hoping to match the performance of one of its important community stores in the United Arab Emirates.

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Tuesday, July 16, 2024

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