Amsterdam-based supermarket group Spar International has entered the Saudi retail market in partnership with Saudi conglomerate the Al Sadhan Group, according to Inside Retail Asia.
The group reportedly aims to open 40 stores in Saudi Arabia by 2020, having recently launched three in Riyadh, with five further stores planned for this year.
Spar has initially elected to target the mid to premium sector of the Saudi retail market, but has revealed plans to branch out into stores catering to all economic sectors.
Tobias Wasmuht, Spar International’s managing director, commented: “With a growing young population, rising GDP and increased consumer purchasing power, the retail market in Saudi Arabia has been growing steadily.”
Spar’s partner in Saudi Arabia, Al Sadhan Group, is a family business founded in 1952, with a range of interests including real estate, building management, food retail and brand development.
The first Spar store in Saudi Arabia was launched last year, with Al Sadhan receiving support from Spar in terms of logistics development, supply chain creation and store design.
Spar’s partnership with Al Sadhan builds on its presence in the Middle East region, not least in the UAE, Oman and Qatar.
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