Petromin, Lulu to open ten SWFT stores in Saudi Arabia
The MoU covers six locations in Jeddah and four in Riyadh, with both parties signalling appetite for further expansion
Saudi mobility company Petromin and retail chain Lulu Hypermarket have signed a memorandum of understanding to develop ten SWFT by Lulu convenience stores at Petromin petrol stations across the Kingdom.
The agreement, signed in Jeddah by Mohammed Haris, Director of Lulu Hypermarkets KSA, and Amit Wankhede, CEO of Petromin Energy, will see six stores open in Jeddah and four in Riyadh. The signing took place in the presence of Amr Al-Dabbagh, Chairman of Al-Dabbagh Group.
SWFT by Lulu is a grab-and-go retail format designed for high-traffic locations including metro stations, airports and petrol stations, focusing on speed and a premium shopping experience.
Petromin, which traces its origins to a 1968 Royal Decree establishing a joint venture between Saudi Aramco and ExxonMobil, currently operates more than 80 stations across Saudi Arabia. The partnership gives Lulu a ready-made network of high-footfall sites, while offering Petromin a recognised retail brand to strengthen its forecourt offering.
Both companies described the initiative as aligned with Saudi Arabia's Vision 2030 objectives around retail innovation and mobility.
