Page 36 - Metro Brazil PR Report - March 2024
P. 36

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market - LogisticsGulfNews.com
        Metro Brazil expands footprints in KSA to


        contribute to booming retail and


        eCommerce market



        by Kevin Vaz   March 12, 2024  in E-commerce



        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


                                                         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

                   Alaa Kara Ali- CEO, Metro Brazil      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 commitment to innovation,
      https://www.logisticsgulfnews.com/e-commerce/metro-brazil-expands-footprints-in-ksa-to-contribute-to-booming-retail-and-ecommerce-market/  1/2
   31   32   33   34   35   36   37   38   39   40   41