Dutch retailer Spar looks to open 40 stores in Saudi Arabia
Amsterdam-based supermarket group Spar International is looking to open 40 stores in Saudi Arabia by 2020 after partnering with Saudi conglomerate the Al Sadhan Group to launch its first outlet last year.
Spar, which initially wanted to target the mid to premium segment of the Saudi retail market, recently launched three stores in Riyadh last year and has five more in the pipeline this year.
“With a growing young population, rising GDP and increased consumer purchasing power, the retail market in Saudi Arabia has been growing steadily,” Tobias Wasmuht, Spar International’s managing director, said in a statement.
Spar entered the Saudi Arabian retail market in 2016 with a partnership with the family-owned conglomerate Al Sadhan Group, and soft-launched its first branded store about a year earlier.
“The Spar brand products will be a key factor in our success, and we are getting great support from Spar International’s team to source items from Spar partners around the world. Also, this partnership is in-line with the Saudi Arabian vision 2030 and the support we have from the Saudi government for the development,”
Mohammed bin Abdul Aziz Al Sadhan, Chairman of Al Sadhan said, celebrating the brand’s official debut in Saudi Arabia.