DIA Nigeria Operator Plans Growth to Tap Rising Food Spend
The Nigerian operator of Spanish supermarket chain Distribuidora Internacional de Alimentacion plans to open more than 100 stores by 2020 to take advantage of rising spending in Africa’s most populous country.
First Master Retailers, the Nigerian company that bought the local rights to operate DIA stores, could open as many as 25 CityDia shops a year, Chief Operating Officer Samuel Abiola-Jacobs, 35, said in an interview in Lagos, Nigeria’s commercial capital.
FMR opened its first CityDia store in the city on Saturday and is opening a second there in the next few days, he said.
DIA-branded shops are in emerging markets including China, Brazil and Argentina. Nigeria is the third African market to have the company’s stores after Ivory Coast and Senegal, which has about 60, and is the Madrid-based brand’s first foray into an English-speaking country.
“Senegal in three years has grown to over 60 spots and they haven’t even gone throughout all Senegal, so you can see the potential is massive,” Abiola-Jacobs said. “Given how populated we are here and the growth of consumerism in Nigeria, we’re expected to do even better.”
DIA isn’t as optimistic about the outlook for store openings as First Master Retailers, a spokeswoman said by phone from Madrid on Wednesday. FMR is an independent company supplied by DIA, she said.
Part of News Article by Bloomberg, edited by ESM. To subscribe to ESM: The European Supermarket Magazine, click here.