SACO eyes new stores openings, GCC expansion: CEO

Saudi Company for Hardware (SACO) seeks to open around 14 new stores over the next three years, with four set to open in 2018, chief executive Sameer Al-Hamidi told Argaam.

The company also plans to enter other GCC markets and open a store in Bahrain.

SACO will open a specialized technology department — selling mobile phones, tablets, gaming and related accessories — at its stores, amid plans to acquire a strategic stake in this market, Al-Hamidi noted.

It will also a new division for sell smart phones and related accessories at around 10-12 stores in the Kingdom over the next 6 months.

“These new divisions have lower profit margins due to fierce competition; however, we offer our products at attractive prices,” Al-Hamidi added.

SACO today opened its first specialized technology department at SACO World store in Riyadh, as part of the company’s strategic plan announced in February.