Dubai: Australia’s Jones the Grocer is planning to roll out three stores in the UAE in 2015 as it enjoys profitable business in the country.
The gourmet food emporium aims to open two stores in Dubai and one in Al Ain by the fourth quarter of 2015, Yunib Siddiqui, chief executive and owner of the retailer in the country, told Gulf News in a phone interview on Wednesday.
Jones the Grocer, which has a grocery, café, bakery and cheese room, operates in Qatar, Singapore and New Zealand, aside from Australia and the UAE.
The company has invested around $9 million (Dh33 million) to date for its UAE expansion, and will invest a further $6-8 million in the next three years, Seddiqi said.
“Our stores are successful and profitable,” he said.
He expects the company’s revenue in the country to reach in excess of $15 million this year, which is “on par” with 2013.
While locations for Dubai have not been finalised, he said that the retailer “would look at areas where there are Emiratis — they form a core number of our customers.”
With eight stores in the country, of which six are in Abu Dhabi, Jones the Grocer wants to expand its presence in Dubai, where it has two outlets, due to its high population and demand for new concepts.
Growth
“We are expanding our footprint and going to areas where there is potential demand,” Seddiqi said.
He believes that there is more supply than demand in the food and beverage market, with growth seen in the mid-range and high-end segments.
Colin Beaton, managing director of Limelight Creative Services, a retail consultancy in Dubai, said that there is demand for specialty stores selling high-quality food due to consumer confidence and high disposable income in the country.
“People are willing to pay a premium from time to time on better quality food,” he said.
The company is also looking to expand into Bahrain, Saudi Arabia, Oman and Kuwait.
Next week, it expects to officially open a store at Al Muneera, Abu Dhabi.
