26.01.2023 - Companies, Food processing & retail

SPAR to open 24 more stores in Latvia

The international retail chain SPAR is expanding its operations in Latvia and will open 24 more outlets in the coming months, it announced January 24. 

On January 26, a store will open in Rēzekne at Kosmonauta Street 11 and then in the spring, 23 more sales points throughout Latvia will open, including in Rīga.

"Last year, we successfully started working on the Latvian market with the first stores, which are gradually strengthening their positions. This year, we plan to continue faster development and open at least 24 sales points with the SPAR brand in the first half of the year. Currently, our stores operate in Saldus, Liepāja, Cēsis and Daugavpils, but in the near future the coverage will be in all regions of the country," said Andris Vilcmeiers, chairman of the board of 'SPAR Latvija'.

As with the existing brand stores, SPAR-branded products will make up approximately 20% of the available assortment, supplemented by goods from the most popular manufacturers and brands in the Baltics, as well as fresh products from local Latvian companies.

"The market situation is not simple - global challenges affect local residents and their purchasing power, however, we look at growth positively and continue to work towards our set goals. Our plan is to open at least 200 stores in Latvia within five years," said Vilcmeiers.

SPAR started operations in 1932 with one store in the Netherlands, while currently the network operates more than 13,600 stores in 48 countries around the world, serving 14.5 million customers every day. In 2021, 840 new stores were added to the SPAR network with turnover of 41.2 billion euros in total.

Source: Eng.LSM.lv (Latvian Public Broadcasting). Publicity photo: SPAR store in Latvia

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