Spar International, an Amsterdam-based brand has entered into a partnership with Max Hypermarkets to open over 30 Spar Hypermarkets across India by 2019. Under the partnership, 13 currently operational stores will be reconverted as Spar brand in the coming months and a further 20 stores would be opened nationwide over the next five years. The plan foresees retail sales exceeding €300 million (Rs 2,400 crore) by 2019.
The new agreement builds on the previous partnership between the two companies, which saw the launch of Spar-branded hypermarkets across six states in India. Dr Gordon Campbell, Managing Director, Spar International said: “Our new partnership with Max Hypermarkets reaffirms the suitability of the Spar business model to the retail market in India. The Spar brand values the efforts of Max Hypermarkets which have enabled us to develop a strong customer franchise, and, as a result, the Spar brand is well-known and respected by consumers in India.”
He added that the partnership will help bring quality fresh foods, low prices and a convenient shopping environment to consumers in India.
Viney Singh, Managing Director, Max Hypermarkets, said: “We are pleased to renew and extend our business partnership with Spar International. This new arrangement will ensure that the stores are operated to the highest international standards of quality and food safety and provide customers with an enhanced shopping experience. We look forward to work with Spar to rapidly expand the chain and increase our footprint nationwide.”
