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BinDawood Holding and unnamed strategic partners are planning to invest SAR 1.5 bn for expansion plans, including boosting its e-commerce infrastructure, strengthening supply chains, and integrating robots in store operations, CEO Ahmad BinDawood told Argaam on the sidelines of the EFG Hermes conference in London. The planned upgrades come in a bid to increase efficiency and profitability, BinDawood said.
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The details: The firm is set to roll out new e-commerce stores spanning 30k-50k sqm to several cities across the country, backed by smaller 2k-3k sqm distribution hubs across Saudi Arabia. The company is currently focused on expanding its presence locally, with future plans to venture into Gulf markets through acquisitions and franchising agreements.
What we don’t know: BinDawood did not provide a further breakdown of the company’s expansion strategy and the timelines involved.
BinDawood is on an expansion spree: The company closed a SAR 186.5 mn acquisition of Jumeirah Trading last month, and now holds 100% of the wholesaler as it looks to expand its distribution reach, reduce supply chain risk, and improve margins through vertical integration. BinDawood also inked a non-binding MoU with Qatar-based Regional Group Company in July to provide commercial franchise rights for the opening of eight branches under the BinDawood brand in Qatar.
