SPAR INTERNATIONAL ENTERS NEW COUNTRY: MONGOLIA

Netherlands-based SPAR International has undertaken a further market entry, partnering with locally-based Max Group to open stores in Mongolia in 2017.

The SPAR brand will enter Mongolia as part of a partnership with the locally-based conglomerate Max Group. The two companies said that they envisage 60 SPAR-branded stores to be operational in the country by 2020 across a range of formats. The initials stores to appear under the SPAR brand will be converted from Max’s existing brands, with the first of these conversions set to occur in 2017.

Commenting on the partnership, SPAR International’s managing director, Tobias Wasmuht, said: “We see Mongolia as a dynamic and rapidly developing consumer market with a growing demand for modern world class food retail. We are highly confident that we can build on our strong presence in the region by leveraging our scale with the SPAR operations in neighbouring Irkutsk, Russia and Inner Mongolia, China.”

The announcement from SPAR International follows in the same week that South Korea-based Shinsegae said it would open its first Emart in Mongolia’s capital city, Ulaanbaatar, on July 28, as part of its efforts to expand its presence in the global market.

Source:http://retailanalysis.igd.com/Hub.aspx?id=23&tid=3&nid=15529