- The company’s expansion is a result of thorough research on customer expectations, cultural nuances, fashion trends, and local payment methods.
- The Saudi Arabia shapewear and stocking market is projected to reach a market size of more than USD 7 million by 2028
UAE, March 12, 2024
Metro Brazil, the leading retail and eCommerce company for Brazilian shapewear in the Middle East, expanded its operations into the Kingdom of Saudi Arabia (KSA) with its commitment to enhance the growing retail sector. Projections indicate a substantial expansion of the KSA retail market, anticipated to reach USD 54.46 billion by 2028. Metro Brazil is poised to leverage this growth with its state-of-the-art eCommerce platform, 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 positive impact on the overall economy of KSA. The growth of the market is attributed to several factors such as rising consumer spending power and economic diversification under Vision 2030, aiming to boost productivity and become one of the largest economies in the world, especially in line with their plans for Riyadh Expo 2030.
By expanding into the region, Metro Brazil aims to tap into the thriving market, leverage opportunities for growth, and contribute significantly to the flourishing economy, all while adhering to their global expansion goals.
Alaa Kara Ali, CEO of Metro Brazil, commented: “Our expansion into the KSA market marks a pivotal milestone in our journey. This strategic step reaffirms our unwavering commitment to innovation, customer-centricity, and global growth. Our mission is to provide unparalleled choices in luxury fashion shapewear, tailored precisely to the discerning tastes of customers across the KSA region. Thorough market research studies were conducted by our team of experts to understand Saudi consumers’ demands, preferences, and purchasing habits. With a steadfast focus on technological innovation, we will deliver a seamless and secure shopping experience that precisely caters to the unique demands of the market. We look forward to establishing the company as the ultimate destination for premium Brazilian brands through various strategic partnerships and investments, thereby enriching individuals’ confidence.”
Metro Brazil’s research is centred on customising online shopping experience to successfully meet the expectations of KSA customers by taking into account the cultural nuances and fashion trends as well as incorporating local payment methods. While the KSA eCommerce market is growing positively, the UAE market is projected to reach USD 9.2 billion in 2026, creating an opportunity for Metro Brazil’s success in both these markets.
Furthermore, to capture a considerable size of the KSA shapewear and stocking market which is projected to reach a market size of more than USD 7 million by 2028, the company will officially open physical showrooms in Riyadh and Jeddah, as part of their new expansion strategy, bridging the gap between traditional retail experiences and the digital marketplace.
Additionally, the company’s plans include collaborations with local finance and investment organisations, such as Growth Venture Capital, Investment Pools, and Angel Investors, as well as access to emerging markets and incentives for technological advancements. Metro Brazil’s strategic plans will set new industry benchmarks, placing a strong emphasis on unparalleled customer experience, improved security, and dynamic user engagement.
