Page 45 - Metro Brazil PR Report - March 2024

Metro Brazil expands footprints in KSA to contribute to booming retail and eCommerce market

Alaa Kara Ali- CEO of Metro Brazil. Image Courtesy: Metro Brazil
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 expecta ons, cultural
nuances, fashion trends, and local payment methods

Press Release

March 12, 2024

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

UAE: Metro Brazil, the leading retail and eCommerce company for Brazilian shapewear in the Middle East,

expanded its opera ons into the Kingdom of Saudi Arabia (KSA) with its commitment to enhance the growing
retail sector. Projec ons indicate a substan al expansion of the KSA retail market, an cipated to reach USD
54.46 billion by 2028. Metro Brazil is poised to leverage this growth with its state-of-the-art eCommerce
pla orm, 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 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.

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