Spar International to open 40 stores in Saudi by 2020
Foot retail giant to open eight stores in Riyadh this year
Foot retail chain Spar International has unveiled plans to open 40 stores in Saudi Arabia by 2020, as part of a partnership with Riyadh-based Al Sadhan Group to bring the brand to the kingdom.
The firm opened three Spar stores in Riyadh over the weekend, with five more scheduled this year, bringing the total number of stores in the country to eight.
The stores are aimed at a mid-to premium customer base, with competitive pricing offered for global and local products.
Managing director of Spar International, Tobias Wasmuhtm said a growing young population and rising GDP has resulted in steady growth in Saudi Arabia’s retail market.
Spar is one of the world’s largest food retail chains, with over 12,500 stores worldwide and global retail sales of €33.1 billion (2016). The Netherlands-based group has existing stores across the region in the UAE and Oman.
As for Al Sadhan Group, it is a family owned business that operates in sectors ranging from real estate to facilities management and retail.
Chairman of the group, Mohammed bin Abdul Aziz Al Sadhan, said the partnership is in line with the kingdom’s 2030 vision.