Page 10 - Metro Brazil PR Report - March 2024

Press Release

Metro Brazil expands footprints in KSA to contribute to booming retail

and eCommerce market

• The company's expansion is a result of thorough research on customer expectations,

cultural nuances, fashion trends, and local payment methods.

• The Saudi Arabia shapewear and stocking market is projected to reach a market size
of more than USD 7 million by 2028

UAE, March 12, 2024

Metro Brazil, the leading retail and eCommerce company for Brazilian shapewear in the
Middle East, expanded its operations into the Kingdom of Saudi Arabia (KSA) with its

commitment to enhance the growing retail sector. Projections indicate a substantial expansion

of the KSA retail market, anticipated to reach USD 54.46 billion by 2028. Metro Brazil is
poised to leverage this growth with its state-of-the-art eCommerce platform, and best in class

products, addressing the evolving demands of the fashion retail market.

Notably, the Saudi Arabian eCommerce market is expected to grow at a compound annual

growth rate (CAGR) of 15.01 per cent to reach USD 27.37 billion by 2029. This upward
trajectory in eCommerce revenue is poised to make a significant and positive impact on the

overall economy of KSA. The growth of the market is attributed to several factors such as
rising consumer spending power and economic diversification under Vision 2030, aiming to

boost productivity and become one of the largest economies in the world, especially in line

with their plans for Riyadh Expo 2030.

By expanding into the region, Metro Brazil aims to tap into the thriving market, leverage
opportunities for growth, and contribute significantly to the flourishing economy, all while

adhering to their global expansion goals.

Alaa Kara Ali, CEO of Metro Brazil, commented: “Our expansion into the KSA market

marks a pivotal milestone in our journey. This strategic step reaffirms our unwavering