Business
PRESSR: Spinneys, Ayala Corporation sign joint venture to build stores in Philippines
PRESSR: Spinneys, Ayala Corporation sign joint venture to build stores in Philippines
About this update from Ayala Corp.
Partnership combines Spinneys’ global retail expertise with Ayala Corporation’s deep local market knowledge and experienceThe joint venture plans to open the first store in the fourth quarter of 2026 with a strong pipeline of stores to open in the futureMANILA / DUBAI – Spinneys, a leading premium fresh food supermarket chain in the United Arab Emirates, and Ayala Corporation, a top Filipino business group, have entered a strategic joint venture to build stores in the Philippines, the retailer's first in Southeast Asia. The partnership marks Spinneys’ first venture outside of countries in the Gulf Cooperation Council, aligned with its strategy to broaden its geographic footprint by entering structurally attractive high-growth markets. The collaboration also signifies Ayala’s growing stake in the retail sector, as it continues to bring more international brands to the Philippine market.Under the partnership, Ayala Corporation will hold a 60-percent stake, while Spinneys will own the remaining 40 percent. The joint venture will be managed through a strategic, two-phased approach designed to leverage the core strengths of each partner. In the initial phase, Spinneys will assist the joint venture in establishing and overseeing store operations. Once the operational framework has been set up, ongoing management and day-to-day responsibilities will transition fully to the joint venture, ensuring that both partners continue to contribute to the venture’s growth and success.The partnership will see Spinneys combine its operational and brand expertise in premium fresh food retail with Ayala’s deep local market knowledge, access to prime retail locations within upscale mixed-use developments, and strong experience across the property, retail, and logistics sectors.“Spinneys’ expansion into Southeast Asia marks an exciting new chapter for us. The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings. With a growing middle and upper-income population, the Philippines is seeing a clear shift in consumer expectations creating a strong opportunity for a modern, premium retail offering like ours. 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 ent...