Entrance to a Spinneys supermarket in Dubai, UAE. (Credit: Getty Images)
Spinneys, which first opened its doors in Dubai’s Al Nasr Square in 1961, is now set to expand into Southeast Asia.
The UAE-based premium grocer has signed a joint venture with conglomerate Ayala Corporation to launch a series of supermarkets in the Philippines, marking a new chapter in its international growth story.
Under the agreement, Ayala will hold a 60 per cent stake and Spinneys a 40 per cent. The first store is scheduled to open in the fourth quarter of 2026, with a pipeline of further outlets to follow. The joint venture will adopt a two-phased approach: Spinneys will initially support the venture with operational expertise before handing over day-to-day management to the new entity.
The move builds on Spinneys’ regional momentum. In June 2024, it opened its first Riyadh store in the upscale An Nuzha district, with plans to launch as many as 12 outlets across Saudi Arabia by 2028.
This year, the retailer also announced plans to expand into Kuwait alongside opening ten new stores in the UAE.
Read more: Spinneys expands regional footprint with new store in Riyadh
Sunil Kumar, CEO of Spinneys, said the Philippines offered the right fundamentals for the brand’s first step outside the GCC.
“The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings,” he said.
“Our partnership with Ayala combines its deep local knowledge with our operational expertise, providing a strong foundation to grow in a measured way. As we enter this next phase, we’re delighted to be bringing our high-quality and fresh offering to a new region.”
Ayala, one of the Philippines’ oldest and largest conglomerates, has a diverse presence across real estate, banking, telecommunications, energy, and logistics. The group has been expanding its retail footprint by partnering with global brands.
“We are honoured to be the first partner of Spinneys as it ventures outside the GCC,” said Cezar P. Consing, president and CEO of Ayala Corporation.
“We hope this investment will catalyse trade and investment between the Philippines and the GCC.”
The tie-up aims to blend Ayala’s access to prime sites in mixed-use developments with Spinneys’ expertise in premium fresh food retailing. The Philippine market, with its expanding middle and upper-income classes, is seeing rising demand for modern, high-quality retail experiences, making it a strategic entry point for the brand.
Spinneys currently operates over 80 outlets across the UAE, Oman, and Saudi Arabia (including Waitrose stores), and has become synonymous with quality produce. Its 2024 IPO on the Dubai Financial Market raised Dhs1.4bn, fuelling an expansion drive that now stretches beyond the Gulf.
