Spar’s entry into the Saudi Arabian market is in partnership with Al Sadhan Group . It plans to open another five new stores in Riyadh later this year.
The supermarket chain will initially focus on mid- to premium sector of the retail market and will later launch stores to cater to all economic sectors.
Spar managing director Tobias Wasmuht said: “With a growing young population, rising GDP and increased consumer purchasing power, the retail market in Saudi Arabia has been growing steadily.
“We are delighted to enter this exciting and dynamic market with such an established and well-respected partner as Al Sadhan Group.
“In addition, 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.”
Spar also plans to open 40 new stores in the region by 2020.
Established in 1952, the Al Sadhan Group is a family-owned business, which focuses on the real estate, facilities management, and brand development.
Al Sadhan chairman Mohammed bin Abdul Aziz Al Sadhan said: “We are very proud of this partnership with Spar International.
“Having the right mix between Spar International’s knowledge and best practice, along with our experience in the local market will provide our customers with an excellent retail experience.”
Last week, the retailer also opened its sixth store in Bengaluru, a city in the south Indian state of Karnataka.