“This is now our fourth store in the 6 October area which we are adding to our existing stores in Mall of Arabia, Mazar Mall and Cityscape Mall and it reflects our ongoing commitment to the Egyptian market in spite of the macroeconomic headwinds,” Spinneys CEO Mohanad Adly, said. “The launch also marks the second store opening in the current fiscal year and we still have 6 more planned openings before the end of June”.
Spinneys opened its first branch in Egypt in 2006 and has since made significant strides to increase its presence locally and to enhance the brand’s image and awareness. The company’s accelerated growth strategy, which started in 2014, is focused on reaching shoppers in urban areas with an upgraded supermarket concept, while also offering fresh innovations in its core hypermarket stores.
“Our plan for Egypt remains unchanged in spite of the current economic challenges. We even stepped our growth plan and we will be opening a bigger number of stores every year for the next 3 years”, said Adly. “We will be expanding with both our supermarket and hypermarket formats. The varying size and locations of these stores will enable Spinneys to create a unique shopping experience with an extensive food and non-food variety customized for each community.”