Savola Retail is one of Savola’s two main entities. It is responsible for the group’s managed investments in the retail sector and makes a considerable contribution to our overall profits. In 2015, Savola retail recorded a turnover of SAR 13.5 billion.
Savola’s profits in the retail sector are currently generated exclusively through the Panda Retail Company – Saudi Arabia’s leading grocery store chain. Panda operates more than 498 stores in three formats (hypermarket, supermarket and convenience), serving 120 million customers in 44 cities.
Savola has come a long way in the retail sector and has laid the foundations for strong future development. In 2015, we opened 152 new Panda outlets (a 44% increase in the number of stores) and launched the first branch in Egypt in addition to the one in Dubai, UAE. We are confident that Panda’s strong performance in Saudi Arabia can be replicated in other nations of the MENAT (Middle East, North Africa and Turkey) region, ensuring a bright future for Savola Retail as a whole.
At present, Savola is in a phase of rapid growth and development in the retail sector. Our Panda grocery store chain, for example, had turnover of SAR 13.5 billion and a 12.4% market share in Saudi Arabia in 2015. We are proud of the way our retail business is expanding, and that is why we have developed a clear roadmap that will help us continue to grow at the same pace in the coming years.
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