Spinneys Group news

17 July 2019
As Spinneys Egypt is bought by Investec Asset Management, 7-Eleven adds a new service and LuLu sets out expansion plans, we round up news from the region. Spinneys Egypt ownership changes A controlling stake in Spinneys Egypt has been acquired by Investec Asset Management. No financial details have been released about the purchase. Investec described Spinneys Egypt as one of the ‘ leading g...
10 April 2019
As Majid Al Futtaim targets further expansion in Kenya and BinDawood continues to add new stores, we round up news from the region and its largest retailers. Majid Al Futtaim targets second place in Kenya for 2019 Carrefour’s franchisee for the Middle East and specific countries in Africa, Majid Al Futtaim, has said it is aiming to become the second largest retailer in Kenya by the end of 2...
10 December 2018
As UAE-based Lulu opens its seventh hypermarket in Bahrain, Spinneys announces its decision to grow further in Egypt and petrol forecourt operator ENOC sets out plans to expand in Saudi Arabia. Lulu opens new hypermarket in Bahrain Lulu has opened its seventh hypermarket in Bahrain, located in the recently opened Atrium Mall in Saar. The hypermarket will serve residents of Budaiya, Hamala, ...
17 March 2017
As Morocco-based Label’Vie and Qatar-based Al Meera announce full year 2016 results and, in Egypt, Spinneys and Tawfeer for Food Products discuss expansion plans, we round up news from the region. Label’Vie enjoys robust growth in 2016 Label’Vie saw total revenues rise 12.3% to MAD7.557 bn (US$749.5m). The company said that the additional sales were driven by a mixture of like-for-like grow...
24 January 2017
As online competition rises in Iran, Spinneys, Al Meera, Fathima Group and LuLu expand, we round up news from the region. Iran sees launch of online supermarket HyperKa.com has been launched in Iran, marking a further expansion of online supermarket options in the country. The site links shoppers with local supermarkets and, therefore, will not have any stock itself. Payment can be made thro...
02 August 2016
As Saudi Arabia-based Savola announces second quarter results, Spinneys opens a new store in Egypt and Mohammad Alabbar’s acquisition of a stake in Aramex putting a spotlight on ecommerce’s potential, we round up news from the region. Savola suffers fall in net profit in Q2 Savola has announced that its net profit has fallen 43.2% to SAR246.7m (US$65.7m) in its second quarter as rising oper...
16 March 2016
As the UAE’s Co-operatives announce results, Kuwait-based The Sultan Center says it is to remain in Lebanon and Spinneys opens its newest store in Egypt, we round up news from the region. UAE’s Consumer Co-operative Union discusses 2015 performance As part of the launch of the 21st Co-Op shopping festival, the chairman of the UAE’s Consumer Co-operative Union, Majid Hamad Rahma Al Shamsi, s...
08 October 2015
As UAE-based Majid Al Futtaim reaffirms its plans to double in size over the next five years, the emirates gained a new hypermarket operator in the form of Qatar-based Saudia Group and Spinneys, LuLu and Label’Vie announce expansion plans for different countries, we round up news from the region. UAE gets new hypermarket chain Qatar-based Saudia Group has opened its first Kenz Hypermarket i...
02 July 2015
As Saudi Arabia-based Panda and Lebanon-based Spinneys announce plans to expand in Egypt, LuLu and Géant are set to expand online in the UAE and Carrefour’s franchisee for Morocco, Label’Vie, secures funding for expansion in the country, we round up the news from the region. Panda planning to enter Egypt in 2015 Saudi Arabia-based Panda is set to open 16 stores in Egypt according the countr...
21 October 2014
In an interview with the Lebanon’s The Daily Star, the chief executive of Egypt-based Spinneys, Michael Wright, discussed the retailer’s plans to open its first discount store, under the Happy fascia in the Lebanon. Happy to help Spinneys target different shoppers Wright began by discussing how the Happy fascia would enable the retailer to target a different shopper base to its premium Spin...