Spinneys 1961 Holding plc
DDFM:SPINNEYS1.22
AED
-0.01
(-1.22%)
ISIN
AEE01377S248
Return %
Stock
S&P 500
1Y
-20.59
14.20
3Y
- -
81.12
5Y
- -
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
AED
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in mil. unless spec.Company Description
- CEO
- Sunil Kumar
- Full Time Employees
- 4,216
- Sector
- Retail trade
- Industry
- Food retail
- Address
- Liberty House Dubai DU United Arab Emirates
- IPO Date
- May 9, 2024
- Website
- spinneys.com
- Similar Companies
- Business
- Spinneys 1961 Holding plc operates as a leading premium grocery retailer in the Gulf Cooperation Council region, primarily in the United Arab Emirates, Saudi Arabia, and Oman. The company operates supermarkets under the brands Spinneys, Waitrose, and Al Fair, and engages in trading, wholesale, and export of foodstuff, groceries, and non-food products. Its product offerings include fresh food, bakery products, meat processing, and a strong private label portfolio that constitutes over 43% of retail revenues. The company also operates shopping centers and offers e-commerce services through its online platform. Founded in 1961 and headquartered in Dubai, UAE, Spinneys 1961 Holding plc is a subsidiary of Al Seer Group LLC. Recent strategic developments include an initial public offering on the Dubai Financial Market in 2024, which raised approximately $375 million, supported by cornerstone investors Emirates International Investment Company and Franklin Templeton. The company has expanded its store network by opening seven new stores in 2024, growing its gross selling area by 8.6%, and launched its first-ever food hall concept, "The Kitchen by Spinneys." Additionally, it acquired JHF Australia and launched a hyperlocal delivery service named Spinneys Swift to enhance its digital and customer service capabilities. The company plans to further expand its footprint notably in the Saudi Arabian market with a target of opening 12 stores by 2028, alongside continuous expansion in the UAE. Spinneys 1961 Holding plc's business segments span grocery retail through its branded supermarkets, wholesale and export operations, and shopping center management. It targets high-end consumers seeking premium, fresh, and quality food products across the Middle East, leveraging a vertically integrated supply chain to maintain competitive margins. This positioning has underpinned its status as a leading fresh-focused retailer in the GCC with a strong emphasis on customer experience and digital innovation in recent years. The company is headquartered in Dubai, United Arab Emirates, and continues to pursue strategic growth in retail and e-commerce channels across the region and internationally.