Spar Continues Expansion With Entry Into Sri Lanka
Spar International will make its entry into the Sri Lankan market with ‘ambitious plans’ to open 50 new stores by 2033.
The expansion will be helmed by Spar Sri Lanka (Pvt) Ltd, a partnership between Spar South Africa and Ceylon Biscuits Limited.
The partnership was launched at the grand opening of the first Spar supermarket in Colombo, the country’s capital. Sri Lanka is Spar’s 48th market worldwide, and its sixth in Asia.
The supermarket is comprised of 1,000 square metres, and has an emphasis on fresh foods, with a wide range of vegetables and fruit, an in-store bakery, and fresh meat counter.
The stores will offer a wide range of Spar private-label products, using ingredients sourced internationally and locally.
Excellent Growth Opportunities
Tobias Wasmuht, managing director of SPAR International, commented on the launch, “We are delighted to partner with Ceylon Biscuits Ltd. and to bring the SPAR Brand to this dynamic market.
"The distinct global but local SPAR approach will create excellent growth opportunities for Sri Lankan SPAR independent retailers."
Wayne Hodson, CEO of SPAR Sri Lanka, said, “This is a very exciting period in the ever-changing food retail environment.
"Our mission is to develop and grow local, independent retailers, supporting them through the implementation of efficient supply chain management, stock procurement, promotional and marketing support, IT and retail leadership”.
Spar International is the largest food retail voluntary chain globally, with over 12,500 outlets worldwide. It reported global retail sales of €33.1 billion in 2016, the most recent year for which results are available.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.