L'Oreal KSA, a JV with Al Naghi Group, targets sales growth among women in Saudi Arabia
Cosmetics and beauty giant L'Oreal said on Tuesday it has set up a subsidiary to target sales growth among women in Saudi Arabia.
L'Oreal said it has created L'Oreal KSA, a new subsidiary based on a joint venture with Al Naghi Group.
L'Oreal brands have been present in the Gulf kingdom since 1982 and appointed Al Naghi Group as its sole distributor in 2000 but now the cosmetics company has taken a further step to grow its presence in Saudi Arabia.
The new subsidiary will manage a portfolio of brands including L'Oreal Professional, Kerastase, L'Oreal Paris, Garnier, Maybelline New York, Vichy.
A statement said: "L'Oreal 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'Oreal KSA team."
Geoff Skingsley, managing director, Africa & Middle East Zone L'Oreal, added: "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."
Sheikh Mohamed Yusuf, chairman, Naghi Group, said: "We are very proud to be associated with such an ethical, consumer and community enabling Group and look forward to build the business further."