Spinneys unveils expansion plans
Beirut, October 30, 2011
Mena’s premium grocery retailer, Spinneys, has unveiled its regional expansion strategy which includes expanding its presence in Lebanon, Egypt and Qatar, opening its first store in Jordan, and identifying opportunities to establish new markets across the region.
The management of Spinneys, which was founded in 1924 in Egypt, highlighted the company’s ambitious growth plans at a launch ceremony that took place in Beirut, Lebanon, to mark the opening of the seventh and largest Spinneys branch in that country.
The event, timed to coincide with the 13th anniversary of Spinneys’ current operations in Lebanon, was attended by representatives of the business community, partners, suppliers and the senior management of Abraaj Capital, the main investor in the Spinneys Group, a statement from the company said.
The new store, strategically located in Hazmieh, a residential and commercial neighborhood, represents the single largest investment ever made by the group in the Mena region.
“The opening of our Hazmieh store underlines our confidence in the Lebanese economy and determination to contribute to its growth,” said Waqar Siddique, chairman of the board of Spinneys and chief operating officer, Abraaj Capital, speaking at the store opening ceremony.
“With active support from Abraaj Capital, Spinneys will continue to deliver on its regional expansion strategy, as demonstrated by planned store openings in Achrafieh, Jbeil and Mtaileb over the next 14 months,” Siddique said. “We anticipate opening stores in two additional locations in Lebanon in 2013 and are very excited by the growth prospects this offers to the retail and commercial sector in Lebanon.”
Spinneys is also focused on ongoing expansion outside Lebanon, including entry into the Jordanian market, which will be marked by the opening of a hypermarket in the new Taj Mall, located in the upmarket Abdoun area of Amman. Store rollouts are also planned in Qatar and Egypt in the coming weeks.
Michael Wright, CEO, Spinneys Group, said: “On the occasion of the Hazmieh opening, we are delighted to announce the launch of the Spinneys loyalty card, which builds on the three years of success our customers have enjoyed with the Spinneys rewards scheme. In addition, we have also developed exciting promotional offers for our customers within the store that reinforces our commitment to providing a superlative shopping experience, unique deals and great prices, whilst never compromising on quality.”
The new store provides a retail selling area of 8,000 sq m on a single level with unique features that offer customers a differentiated shopping experience. Visitors to the store will notice the ambience and exceptional finishing of the environment in the supermarket, reflective of the ‘shop-in-style’ theme, the statement said.
Designed to allow customers to efficiently navigate through, specialist departments conveniently laid out in the manner of a street have been introduced through the retail space enabling customers to have a convenient and enjoyable shopping experience, it said. – TradeArabia News Service