Page 24 - Metro Brazil PR Report - March 2024

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market - UAE DIGITAL NEWS

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 posi ve impact on the overall economy of KSA. The growth of the market
is a ributed to several factors such as rising consumer spending power and economic diversifica on under
Vision 2030, aiming to boost produc vity 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 opportuni es 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 commitment to innova on, customer-
centricity, and global growth. Our mission is to provide unparalleled choices in luxury fashion shapewear,
tailored precisely to the discerning tastes of customers across the KSA region. Thorough market research
studies were conducted by our team of experts to understand Saudi consumers’ demands, preferences, and
purchasing habits. With a steadfast focus on technological innova on, we will deliver a seamless and secure
shopping experience that precisely caters to the unique demands of the market. We look forward to
establishing the company as the ul mate des na on for premium Brazilian brands through various strategic
partnerships and investments, thereby enriching individuals’ confidence.”

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