Sonae opens Zippy store in Morocco

Sonae opens Zippy store in Morocco Sonae has just opened its first Zippy store in Morocco, expanding the presence of its retail area specializing in North Africa.
This expansion of Sonae SR contributes to the progressive strengthening of its international revenue, while allowing markets to benefit from exposure at different stages of economic growth.
Miguel Mota Freitas, CEO of Sonae SR, says: "Zippy is now present on four continents and in over a dozen countries, asserting itself as a growing global brand. The recognition obtained from partners and customers in this broad set of markets demonstrates that it is possible to develop brands in Portugal capable of competing globally, through a commitment to innovation that focuses on quality, design and price, as is the case of Zippy ".
The new store is located in Casablanca, at the modern shopping center Anfa Place, and has an area of over 160 m2. The offer is similar to that available in other Zippy stores worldwide, combining design, quality and price, adapted to the local climate.

The opening of the first Zippy store in Morocco follows a "capital light" strategy, taking place under the franchise agreement signed with Fawaz Alhokair Group. The implementation of this new opening allows Sonae an expansion to a new market, taking benefit from the synergies arising from the business already developed by the partner.

The internationalization of Sonae's specialized retail business - Sonae SR - began in 2008 with the entry of Sport Zone and Worten in Spain, followed by the expansion of Zippy for that market in mid-2009. Since that year, Sonae started a process of internationalization, expanding through its own stores, but also using "capital light" strategies, including partnerships and franchising agreements.
After continuous reinforcement in the Iberian Peninsula and the initial expansion to the Middle East, Sonae SR has been expanding its presence. Last year it entered the markets of Latin America, Eastern Europe and the Caucasus (Asia) with North Africa joining them now in 2013.
Miguel Mota Freitas concludes: "Despite all the progress made in terms of internationalization, we are looking for opportunities to expand into new countries in order to strengthen our brand portfolio."
2013-03-20 11:10:59
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