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FINANCIAL NEWS
Food retailer SPAR to make a foray in ME
27 Jan 2013
(MENAFN) Dutch food retailer SPAR International is eyeing 30-store openings across the Middle East by the end of 2015, Reuters reported.
The retailer’s managing director Gordon Campbell said the company plans to debut its foray with eight stores in Abu Dhabi, two in Qatar and one in Lebanon by the end of this year.
The Dutch firm is partnering with Abu Dhabi Cooperative Society, a local retailer, for its Middle East entry and expansion.
The retailer, which has over 12,000 stores worldwide, also plans to enter the Saudi market and Oman over the next three years, Campbell added.
SPAR expects its Middle East operations to generate revenues of over USD1 billion in five to ten years, Campbell said.
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