Page 61 - Metro Brazil PR Report - March 2024

Metro Brazil expands business in Saudi Arabia to boost e-commerce market - WriteCaliber
Metro Brazil expands business in Saudi Arabia to boost e-commerce market

Date: 12-Mar-2024

Source: Mubasher

Sector: Retail

Country: Saudi Arabia

Riyadh – Mubasher: Retail and e-commerce firm Metro Brazil expanded its opera ons into Saudi Arabia in line with

its commitment to enhance the growing retail sector.

The Saudi retail market is expected to reach $54.46 billion by 2028, according to a press release.

Metro Brazil intends to leverage this growth with its eCommerce pla orm and best products amid the increasing

demands of the fashion retail market.

Furthermore, the Saudi e-commerce market is projected to rise at a compound annual growth rate (CAGR) of
15.01% to reach $27.37 billion by 2029.

This upward trajectory in e-commerce revenue is poised to make a significant and posi ve impact on the overall
economy of KSA.

The growth of the market is due to several factors, such as rising consumer spending power and economic
diversifica on under Vision 2030.

The Saudi vision aims to boost produc vity and become one of the largest economies in the world, especially in line

with their plans for the Riyadh Expo 2030.

Alaa Kara Ali, CEO of Metro Brazil, commented: “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.”

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