Grocery retail franchise Spar International will open more than 150,000sqm of retail sales space in China this year. The firm’s store-development plans include compact hypermarkets and a “new generation” of supermarkets in Northern and Southern China.
Spar International, which operates more than 13,000 stores in 48 countries worldwide, is coming off a strong financial year with global sales of €35.8 billion (US$40 billion). The group launched 335 new locations last year, and entered four new countries.
“Our strong network of Spar partners and supply chains across four continents gives the brand a competitive advantage in an increasingly global marketplace,” said Spar CEO Tobias Wasmuht, “while our multi-format strategy allows us to respond to changing customer needs.
“Our continuous compound annual growth of 5.2 per cent over the last three years creates a strong platform to build from for the future and indicates that our ‘Better Together’ strategy, launched in 2016, continues to deliver for the organisation, our partners and our customers.”
