EGYPT – Spinneys Egypt, a leading supermarket chain, has marked a new milestone by opening a new store worth EGP 70 million (USD 1.46 million) in Alexandria.
The new store is located in the Gleem neighborhood and is the second in Alexandria. The opening is a part of the company’s ongoing expansion strategy.
It spans over 1,200 square meters and provides a range of high-quality products and services. This addition is expected to become an important part of the community.
Mohanad Adly, CEO of Spinneys Egypt, expressed enthusiasm for the expansion.
“We are excited to expand our presence in Alexandria with the opening of our newest store in the Gleem neighborhood. This investment underscores our confidence in the Egyptian market and our dedication to meeting the evolving needs of our customers.”
The new store also contributes to local employment by offering 100 job opportunities to people from Alexandria. This move demonstrates Spinneys’ commitment to supporting the local community and economy.
Expansion plans
Spinneys plans to open four more stores before the end of the fiscal year in June 2024. These expansions will strengthen the company’s leadership in the Egyptian retail sector and enable it to serve customers across the country.
Adly highlighted Spinneys’ plans, stating, “We look forward to welcoming customers to our newest location and to continuing our growth and innovation journey in the months and years ahead. Our vision for growth in the Egyptian market definitely does not stop here.”
Barely a month before the Alexandria opening, Spinneys opened a store in west Cairo. This new store is situated on Waslet Dahshour road within the Swell Lake strip mall, across from Palm Parks.
Adly emphasized the strategic importance of the west Cairo opening, especially during challenging economic times.
He stated, “This is now our fourth store in the 6 October area, reflecting our unwavering commitment to the Egyptian market despite macroeconomic headwinds.”
Spinneys plans to keep growing. Alongside the four new stores already underway, the company plans to open six more locations across Egypt during the upcoming 2024/2025 fiscal year starting in July.
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