UAE's Spinneys strikes major retail deal with Ayala Corp. for Philippines expansion

Dubai: The Dubai-based premium grocery retailer Spinneys, is expanding its horizons beyond the Gulf Cooperation Council (GCC) for the first time. The retailer has entered a strategic joint venture with Ayala Corporation, a prominent business group in the Philippines, with the goal of building and operating stores across the Southeast Asian nation.

This partnership marks a significant step in Spinneys' broader strategy to enter structurally attractive, high-growth markets and increase its geographic footprint. For Ayala Corporation, the collaboration further solidifies its growing commitment to the retail sector, continuing its efforts to introduce international brands to the Filipino market.

Under the terms of the agreement, Ayala Corporation will hold a 60-percent stake in the joint venture, while Spinneys will own the remaining 40 percent. The two companies will execute a two-phased approach, leveraging the specific strengths of each partner. Initially, Spinneys will assist in establishing and overseeing the supermarket’s store operations. Once the operational framework is fully set up, ongoing management and the day-to-day responsibilities will transition completely to the joint venture entity.

The alliance is designed to combine Spinneys’ deep operational and brand expertise in premium fresh food retail with Ayala’s extensive local market knowledge, strong experience in property and logistics, and most importantly, access to prime retail locations within upscale, mixed-use developments.

Spinneys CEO, Sunil Kumar, expressed enthusiasm for the new chapter, citing the Philippines’ potential. “The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings,” he stated. Mr. Kumar believes the country’s growing middle and upper-income population signals a shift in consumer expectations, which creates a significant opportunity for a modern, premium retailer like Spinneys.

“Our partnership with Ayala combines its deep local knowledge with our operational expertise, providing a strong foundation to grow in a measured way. As we enter this next phase, we’re delighted to be bringing our high-quality and fresh offering to a new region,” he added.

Ayala Corporation President and CEO, Cezar P. Consing, welcomed the partnership, noting the potential for broader economic benefits. “We are honoured to be the first partner of Spinneys as it ventures outside the Gulf Cooperation Council. We hope this investment will catalyze trade and investment between the Philippines and the GCC,” Mr. Consing commented, emphasizing Ayala’s commitment to partnering with world-leading companies to bring premier products and services to the Philippines.

This move into the Philippines follows strong recent momentum for Spinneys, which has included the opening of ten new stores in the UAE this year and the recently announced plan to enter the Kuwaiti market.