Global retailer Spar has announced its expansion into Saudi Arabia with the opening of three stores in Riyadh, the country’s capital.
The move is described as the first phase of the retail group’s expansion in the country through a partnership with Saudi conglomerate Al Sadhan Group.
While the first Spar stores in the Saudi Arabian market will be aimed at the mid- to premium sector, as the brand develops the Dutch retailer said it ultimately aimed to target all economic sectors, “providing all customers with competitive pricing for the best global and local products”.
Tobias Wasmuht, managing director of Spar International said: “With a growing young population, rising GDP and increased consumer purchasing power, the retail market in Saudi Arabia has been growing steadily”.
Spar’s move into Saudi Arabia follows on from other partnerships it has established in the wider Middle East, notably in the United Arab Emirates, Oman and Qatar, as well as its recent expansion into Pakistan.
Spar said it planned to open five more stores in Saudi Arabia this year, and a total of 40 in the country by 2020.