Spinneys Acquires Majority Stake in New Kuwait Venture, Plans 10 Stores by 2026

Spinneys has revealed its plans to enter the Kuwaiti market through a strategic collaboration with Alshaya Group. This joint venture underscores Spinneys' ambitions for long-term growth in the region, marking its presence in a fourth GCC market.

As part of this partnership, Spinneys will hold a 51 percent majority stake and will oversee the operation and management of all stores in Kuwait. A total of ten stores are planned, with the first one expected to open in 2026.

Spinneys in Kuwait

Sunil Kumar, CEO at Spinneys, expressed enthusiasm about this new venture: "We are thrilled to announce our entry into Kuwait as an integral step in our Middle East expansion strategy. This represents a significant milestone as we aim to bring our premium fresh food offerings to more customers."

He added that Kuwait offers substantial growth potential and emphasized the importance of partnering with Alshaya Group, which shares similar values and ambition. "This joint venture lays a strong foundation for successful entry and long-term scaling," Kumar noted.

John Hadden, CEO at Alshaya Group, remarked on the partnership's promise: "We are excited to collaborate with Spinneys on this new chapter, introducing a beloved brand to our Kuwaiti customers. With its dynamic market and demand for premium products, we believe that Spinneys' recognized brand excellence will greatly appeal to local consumers."

As the fourth-largest economy within the GCC, Kuwait presents notable retail opportunities bolstered by high disposable incomes and an increasing demand for quality products.

The joint venture positions Spinneys to capitalize on this affluent consumer base while solidifying its standing as a premier fresh food grocery brand across the Middle East.

This expansion follows recent rapid growth; between April 2024 and August 2025 alone, twelve new stores opened in the UAE alongside two in Saudi Arabia. This increased their overall selling area significantly.

The venture into Kuwait signifies another key phase in Spinneys' growth strategy as it aims to continue delivering long-term value while expanding its regional footprint.