Dubai-based premium grocery chain Spinneys is making its first move outside the Gulf region through a landmark partnership with the Philippines’ Ayala Corporation. The joint venture aims to build and operate a network of Spinneys stores across the country, marking a major step in the retailer’s global expansion strategy.
Under the agreement, Ayala Corporation will hold a 60 percent majority stake, while Spinneys will own 40 percent. The rollout will take place in two phases: Spinneys will initially oversee store setup and operations before handing full management to the joint venture once systems are established.
The partnership combines Spinneys’ expertise in fresh, premium food retail with Ayala’s strengths in property, logistics, and market access. With Ayala’s portfolio of upscale mixed-use developments, the alliance is positioned to capture a growing consumer base in the Philippines.
Spinneys CEO Sunil Kumar highlighted the country’s potential, saying, “The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings.” He added that the collaboration with Ayala will allow Spinneys to grow “in a measured way” while bringing its signature fresh and premium products to Filipino shoppers.
Ayala Corporation President and CEO Cezar P. Consing emphasized the wider impact of the venture. “We are honoured to be the first partner of Spinneys as it ventures outside the Gulf Cooperation Council. We hope this investment will catalyze trade and investment between the Philippines and the GCC,” he said.
The move follows Spinneys’ recent growth momentum, including ten new store openings in the UAE this year and a newly announced plan to expand into Kuwait.
