Sunil Kumar and Debashish Mukherjee at MRF 2024
What does it take to sustain profitable growth in the post-IPO phase? How is Spinneys navigating the retail market post its IPO? This was the key theme of the discussion that took place between Spinneys CEO, Sunil Kumar and Kearney’s Partner and Regional Lead, Debashish Mukherjee at MRF 2024.
From being a profitable business recording year on year success to navigating the post IPO market with the right values by operating in a category that is the least profitable, how did Spinneys do it all asked Mukherjee.
“Spinneys has been in business for more than 60 years in the UAE and Oman with 79+ stores today across the region and in KSA, and with 65% of the brand’s presence being in selling fresh food. The unique aspect for us has always been about offering the customer the right value. Value addition and bringing grocery that spells freshness has helped us stay close to the customer at every step,” Kumar explained.
He explained that success does not come in one day and because Spinneys deals with a complex dynamic product mix, the idea was always to slowly build the capabilities both on the frontend and the backend to create that strong portfolio and customer base.
In fact, today 43% of the brand’s business comes from its strong private label ecosystem and the growing demand for this segment shows that the customer is loyal to the brand, which automatically created the perfect base to go public.
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