Page 45 - Metro Brazil PR Report - March 2024

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market - Middle East News 247

Metro Brazil expands footprints in KSA to contribute

to booming retail and eCommerce market

By Middle East News 247 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

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