INTERVIEW: Saudi grocery retailer BinDawood Group expanding aggressively - CEO | ZAWYA MENA Edition:
Saudi Arabia’s BinDawood Group, the owner of the Danube & BinDawood supermarket brands, is gearing up for an aggressive online and offline expansion within the kingdom, and is also looking at opportunities to grow physical stores beyond the Saudi borders, the group’s chief executive has told Zawya.
Despite the fact that many physical retail companies are struggling worldwide, BinDawood Group’s CEO Ahmad A.R. BinDawood believes that there is still room for traditional retail to grow, especially in Saudi Arabia, where the lifting of the ban on women driving ‘offers a rare opportunity for Saudi retailers’.
And while the CEO expects a minimal negative impact from a combination of last year’s value-added tax, the introduction of expat dependents’ fees and a Saudisation drive in retail, he believes this could play into the hands of stronger companies, with more consolidation in the sector anticipated in 2019, especially among small retailers in the kingdom.
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