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  • 10-04-13

    Spinneys to open stores in Saudi, Kuwait

    (MENAFN) Spinneys CEO, Richard Wright, announced that the Beirut-based retailer will launch a number of grocery stores in both Saudi Arabia and Kuwait over the coming decade, reported Arabian Business. Wright said that Spinneys eyes 10 stores in different Saudi cities, including Jeddah and Riyadh. The CEO added that in 2013, Spinneys' inked a memorandum of understanding with a partner in Kuwait to launch their first store in the emirate, which should come on-line in 2014. He added that the high-end chain, which has a network of stores across Lebanon, Egypt, Jordan and Qatar, is also expanding its presence in existing markets. It is worth noting that in 2012, the privately held retailer's revenue jumped by over 20 percent.

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