The SPAR chain encompasses over 12,000 retail stores in 35 countries on four continents. SPAR has achieved cumulative growth of 18% over the last four years and a new partnership agreement will see more than 30 SPAR Hypermarkets operational across India by 2019.
The agreement builds on the previous successful partnership between the two companies which saw the launch of SPAR-branded hypermarkets across six states in India. The recent announcement will result in a further 20 stores opening nationwide over the next five years. The plan foresees retail sales exceeding €300 million (about NZ$450 million) by 2019.
Announcing the new partnership, Dr Gordon Campbell, Managing Director, SPAR International said: “Our new partnership with Max Hypermarkets reaffirms the suitability of the SPAR business model to the retail market in India. The SPAR brand values and efforts of Max Hypermarkets have enabled us to develop a strong customer franchise, and, as a result, the SPAR brand is well known and respected by consumers in India. Our previous presence in the market provides a strong foundation to grow the brand in the years ahead and we look forward to working closely with Max Hypermarkets to bring quality fresh foods, low price and a convenient shopping environment to consumers in India.”
Viney Singh, Managing Director, Max Hypermarkets, said “We are pleased to renew and extend our business partnership with SPAR International. This new arrangement will ensure that the stores are operated to the highest international standards of quality and food safety and provide customers with an enhanced shopping experience. We look forward to working with SPAR to rapidly expand the chain and increase our footprint nationwide.”