Dutch retail chain, Spar enters Sri Lanka | Sunday Observer

Dutch retail chain, Spar enters Sri Lanka

One of the world’s leading voluntary food retail chains, Spar opened its first retail outlet in Thalawathugoda on Friday. Spar Sri Lanka, a joint venture between Ceylon Biscuits Limited and the Spar Group Ltd., South Africa has been granted a licence to trade under the Spar banner in Sri Lanka and plans to empower local entrepreneurs. The firm has announced plans to open 20 supermarkets within a five-year period.

“SPAR has brought our very own branded products to Sri Lanka. Sourced from around the world, you’ll find almost 300 lines in our Thalawathugoda store,” the retail chain, which has its headquarters in Amsterdam in the Netherlands, said in a Facebook post recently.

By registering and retaining local ownership, it is learnt that profits will be invested back into the country and community, thereby contributing to local development, employment opportunities and the growth of the Sri Lankan economy.

“It’s a really smart country, 21 million people, 5% unemployment, 95% literacy. So we are very positive about our entry into the Sri Lankan market,” Spar CEO Graham O’Connor told a South African Radio channel recently. Spar’s philosophy is founded on the concept of voluntary retailing: Independent wholesalers and retailers can achieve more by working together than working alone.