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MEITUAN-W's Rapid Expansion in Saudi Arabia Reportedly Fends Off Dingdong's Foray
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In 3Q24, Dingdong (DDL.US) disclosed its decision to dabble in the Saudi market with an initial plan to open its first front warehouse locally by March 2025, Chinese media reported. However, sources indicated that Dingdong CEO Liang Changlin, upon learning Meituan's Xiaoxiang Supermarket was considering entering Saudi Arabia, announced at an internal meeting in early February the temporary withdrawal from the Saudi market to cut losses in time and refocus on domestic business. It is understood that Dingdong's management believed it would be difficult to compete against Xiaoxiang Supermarket, which has delivery traffic support and unlimited resources. All of the previously announced recruitment positions for the Saudi region by Dingdong Maicai have also been taken offline. AAStocks Financial News |
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