BinDawood Holding expands further in Saudi Arabia with launch of 47th Danube Store

Bindawood Holding —

BinDawood Holding expands further in Saudi Arabia with launch of 47th Danube Store

• Danube store opened at Fayfa Avenue in Jeddah; BinDawood Holding’s portfolio grows to 74 stores

• State-of-the-art supermarket comprising Danube Star Bakery, Meat, Fresh Fruit sections and non-food items

Jeddah, Saudi Arabia; 30 December 2020 – BinDawood Holding Co. (Tadawul: 4161 and the “Company”), one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia (‘KSA’), announced the opening of a new Danube store in Jeddah located in Fayfa Avenue on Prince Mohammed Bin Abdulaziz Street (Previously known as Tahlia). The launch of this store marks Danube’s expansion to 47 locations across Saudi Arabia, in line with the brand’s growth strategy and the demand for modern grocery retailing in the Kingdom.

With the latest addition of Danube Fayfa Avenue, the Company has opened five new grocery retail stores as at end of 2020; 47 of which are Danube stores and 27 are BinDawood stores. BinDawood Holding’s portfolio now stands at 74 stores overall.

Danube has seen considerable growth in sales, reporting an increase of 23.5% as at 9M 2020, due to pantry stocking during the pandemic, continued availability of stock (including premium products) and large layout of stores conducive to social distancing.

Ahmad AR. BinDawood, CEO of BinDawood Holding, said:

“We are excited to further expand Danube’s footprint in the Kingdom and give our loyal customers in Jeddah greater options to enjoy the highest quality grocery shopping experience in their city. Danube is a household name and one of Saudi Arabia’s most loved consumer brands and we want to ensure as many people can access and experience our brand and commitment to quality, value and service.

We have seen a healthy uptick in demand for more modern formats in grocery retailing and we anticipate this trend to continue at a faster pace in the coming period, led by changing consumer habits and preferences. Our latest Danube store has been built and designed in line with current industry and macro trends with the view to effectively meet our customers’ expectations now and in the years to come.”

The Danube store occupies a 2,500 square meter space in Fayfa Avenue comprising Danube Star Bakery, Meat, Fresh Fruit sections and non-food items; and is equipped with state-of-the-art facilities to provide a premium shopping experience. In celebration of its 47th Danube store, the Company is launching a number of promotional and marketing activities to celebrate the store opening.

The Company now operates 10 Danube stores in Jeddah, which include Danube Fayfa Avenue; Danube Madinah Road; Danube Al Khalidyah; Danube Tahlia Andalus; Danube Nahda; Danube Arbeean; Danube Serafi; Danube Red Sea Mall; Danube Al Salam Mall; and Danube Tahlia Safa.

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About BinDawood Holding Co.

BinDawood Holding is one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia. The Company has a total of 74 stores of which 51 are hypermarkets and 23 are supermarkets, each located strategically across KSA, operating two complementary brands: BinDawood and Danube.

BinDawood Holding – Investor Enquiries
Hassan Javaid, Head of Investor Relations [interim]
hassan.javaid@danubeco.com

BinDawood Holding – Media Relations Enquiries
Siobhan McCarthy, Chief Communications Officer
siobhan@bindawood.com