KUWAIT CITY : UAE-based supermarket chain Spinneys has announced its entry into Kuwait through a joint venture with the Alshaya Group, marking its expansion into a fourth Gulf market.
Under the agreement, Spinneys will hold a 51% majority stake and take charge of operations, including store management and strategic direction. The plan calls for the opening of 10 stores across Kuwait, with the first outlet scheduled to launch in 2026.
Spinneys CEO Sunil Kumar described Kuwait as a market with strong potential. “This partnership provides us with the right foundation to introduce Spinneys’ quality and freshness to a new customer base, while continuing our regional growth journey,” he said.
Alshaya Group CEO John Hadden added that the collaboration combines Spinneys’ retail expertise with Alshaya’s deep knowledge of local consumers. “Together, we will deliver a premium shopping experience that matches the growing demand for quality fresh food in Kuwait,” he noted.
The announcement boosted investor sentiment, with Spinneys’ shares rising 3.1% on the Dubai Financial Market following the news. The retailer, established in 1961, currently operates 86 outlets under its Spinneys, Waitrose, and Al Fair brands across the UAE, Oman, and Saudi Arabia.