BinDawood Holding focuses on expanding, boosting online presence: CEO

16/05/2024 Argaam

BinDawood Holding focuses on expanding, boosting online presence: CEO

Ahmad BinDawood, CEO of BinDawood Holding 

BinDawood Holding Co. will continue focusing on expanding its geographical footprint and ramping up its online presence, CEO Ahmad BinDawood said in a statement.

 

The company is making significant investments to open stores in Riyadh and the Western Province. Its first mega dark store will be ready for operation in the second half of 2024, the CEO added, commenting on the first-quarter results.

 

He noted that this will enhance local goods deliveries, leading to increased sales and business growth, aligning with BinDawood Holding’s multi-channel strategy.

 

The Q1 2024 revenue rise, according to the top executive, was due to a 7.5% year-on-year (YoY) hike in store visits, reflecting the success in improving the customer experience.

 

BinDawood Holding’s profits (excluding minority interest) rose to SAR 57.2 million by the end of the first quarter of 2024, up 11% from SAR 51.5 million in Q1 2023.

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