The Clap:
A source told Asharq Business of MM Group’s plans to enter the Saudi market by the second half of 2024.
What:
The company plans to start operations with sales and distribution of electronic home appliances.
According to the source, the company is looking to sell its licensed brands as well as its fully owned new home appliances brand “Armadillo”, and later expand its operations into the non-banking financial services sector.
Some Context:
MM Group approved establishing a fully owned subsidiary in the kingdom last September to facilitate its expansion goals.
Rinse and Repeat:
The company plans to repeat the expansion process into the Emirati market later.
