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L'Oréal to Launch Subsidiary in Saudi Arabia
Posted: November 14, 2012
In order to reinforce its presence in Saudi Arabia, L'Oréal has created L'Oréal KSA, a new subsidiary based on a joint venture with Al Naghi Group.
L'Oréal brands have been present in the kingdom of Saudi Arabia since 1982, and in 2000, L'Oréal appointed Al Naghi Group as its sole distributor for its consumer products, active cosmetics and professional products divisions. With this new venture, the L'Oréal KSA subsidiary will manage a portfolio of brands including amongst others L'Oréal Professional, Kerastase, L'Oréal Paris, Garnier, Maybelline New York, Vichy.
L'Oréal KSA's scope will include implementing best practices on developing the local market, increasing consumer proximity to better understand the Saudi woman's needs, ensuring greater reach for the group's products to more Saudi consumers and a commitment to training, education and nurturing local talent within the L'Oréal KSA team.
"This union of two strong organizations with shared values, both contributing individual expertise to the partnership, makes us confident that we will significantly improve our positions in the Saudi market," said Geoff Skingsley, managing director, Africa and Middle East zone, L'Oréal.
"Our partnership with L'Oréal for more than 10 years has enabled the access of this great company's brands to millions of Saudi consumers across the kingdom. We are very proud to be associated with such an ethical, consumer and community enabling Group and look forward to build the business further," said Sheikh Mohamed Yusuf, chairman of the Naghi Group.