Spinneys

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Rush of investment in Egypt’s retail sector

There’s a significant surge of investment in Egypt’s retail sector as the shopping habits of the country’s consumers’ increasingly move towards modern retail.

The shopping habits of Egyptian consumers are increasingly shifting towards the modern retail sector, resulting in a significant surge of investment in this sector, reports the USDA.

In its report ‘Nile Nuggets for January 2016’, it says the Al-Bustan Real Estate Development Company will invest LE (Egyptian pounds) 3 billion to build four new “HyperOne” branches in New Cairo, Shorouk City, Badr City and Assiut.

Also, the Fathalla Gomla Market Group will invest LE 70 million to establish a 10,000 m2 supermarket in Borg El Arab.

Furthermoe, UAE- based Spinneys is said to be “aggressively expanding” with plans to open 23 new branches in the Delta and Upper Egypt governorates in the next two years with a total investment of LE 5 billion. [$1 = 7.83 LE]

According to the report, the company currently owns six branches in Cairo, the Red Sea, and Qena and retail manager Mahmoud Meawad has stated that Spinney’s has the goal of achieving 35% market share in Egypt’s retail market.

Source: USDA, Nile Nuggets for January 2016
Image by: Alma E. Guinness [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons 

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Spinneys, the Premier Supermarket Retailer in the Middle East, Joins GLOBALG.A.P. as a Member

Spinneys, the Premier Supermarket Retailer in the Middle East, Joins GLOBALG.A.P. as a Member.

Fine Fare Food Market LLC, which operates Spinneys, the premium supermarket retailer in the Middle East, has become the first in the region to join GLOBALG.A.P. as a retail member. This is in line with the company’s strategic decision to support a sustainable sourcing policy in order to benefit their farming partners, the environment, and their customers.

The company operates hypermarkets and supermarkets in Qatar, Lebanon, Egypt, Jordan and, through a franchise agreement, 30 stores in the United Arab Emirates (UAE). GLOBALG.A.P. Membership confirms the company’s commitment to supporting initiatives that assure sustainable and safe products for consumers.

By December 2015, Spinneys UAE plans to import only GLOBALG.A.P. certified fruits and vegetables from South Africa, Morocco, Egypt, Tunisia, Kenya, and Europe. In 2016, the retailer will expand its sourcing policy and work with producers from other countries, including Sri Lanka, Australia and USA, to help them achieve GLOBALG.A.P. Certification.

“We welcome Spinneys as a member in our GLOBALG.A.P. Community,” said Kristian Moeller, CEO of GLOBALG.A.P. “This move will make GLOBALG.A.P. certified produce available also to consumers in the Middle East ‎and opens up a very interesting market for certified producers.”

First established in 1924 by Arthur Spinneys in the suburbs of Alexandria Egypt, Spinneys sold high quality fresh produce, grocery, and baked goods at a fair price and in a fresh and friendly shopping environment. By 1960, it had grown into a chain and succeeded in opening additional retail outlets in Lebanon, Palestine and Jordan and supplying food for petrol exploration teams across the Gulf region.

Spinneys opened its doors in Lebanon’s old Beirut Souks in 1948, followed by additional stores in various parts of the country in the 1970s, but unfortunately the stores closed due to the civil war at that time. Thirty years later, Spinneys pioneered the concept of a hypermarket in Lebanon and re-opened its doors in 1998 through one big store and seven other standalone outlets, in addition to regional expansion in the Middle East.

Spinneys was ranked one of the world’s 50 best grocers by UK based retail magazine The Grocer in 2013.

source: GLOBALG.A.P. media release