Dutch retail chain SPAR will open its first store in Israel next week in Kfar Saba. Unlike French retail chain Carrefour, which amid great fanfare opened 50 stores on one day last year, SPAR has made no promises to revolutionize the Israeli market and SPAR CEO Amit Zeev is cautious in his comments.
SPAR is investing NIS 10 million in its first Israeli store, which will include an in-store café, and an adjacent bowling alley which will offer discounts on future store purchases. SPAR will open its second Israeli store in Beeraheva towards the end of the year and plans having 10 stores in the country within three years.
Until last year Zeev was CEO Yeinot Bitan, which owned by Electra Consumer Products (TASE: ECP) brought Carrefour to Israel, and shortly after leaving he announced signing an agreement to bring SPAR to Israel. Initially Zeev brought in Shufersal (TASE: SAE) as a partner in the deal but the supermarket chain withdrew from the initiative.
Similar to Carrefour, SPAR will offer its private label products alongside the popular brands in Israel. The Dutch company will offer a similar range to the private label food and other products available in rival chains like Rami Levy, Shufersal, Carrefour, and Yochananof.
Operating through local franchises SPAR has 14,000 stores in 48 countries with 15 million customers per year. 2022 revenue was €43.5 billion.
Published by Globes, Israel business news – en.globes.co.il – on March 12, 2024.
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