UAE supermarket chain Spinneys is ready for a Saudi entry
First Spinneys store in the Kingdom will open Q1-23
Dubai: The Dubai-based supermarket brand Spinneys will open its first store in Saudi Arabia in 2023.
Spinneys Dubai and Abdulmohsen Al Hokair Holding Group will partner to establish the Spinneys brand in Saudi Arabia. The venture plans to open the first store in the first quarter of 2023. The partnership comes amid rapid opening of commercial sectors within Saudi Arabia.
“We have considered expanding into the Kingdom for several years,” said Sunil Kumar, CEO of Spinneys Dubai. “With the right structures in place, and a willing and capable partner in the Abdulmohsen Al Hokair Holding Group, we look forward to bringing the Spinneys brand to the people of Saudi Arabia,”
The initial focus will be in the city of Riyadh, with plans to open in more cities. The premium grocery retailer recently announced the acquisition of the Souk Planet stores in Abu Dhabi in the last quarter of 2021.
“We are optimistic about the potential of the Spinneys brand to bring a differentiated grocery retail offering to Saudi Arabia,” said Sami Al-Hokair, the Managing Director of the Saudi group. “The addition of the brand into our stable of world-class brands demonstrates our commitment to sustainable business growth, as we diversify the sectors within which we operate.”