L'Oreal has created a new subsidiary, L'Oreal KSA -- in an effort to increase its presence in Saudi Arabia. L'Oreal KSA was created based on a joint venture with Al Naghi group. The new subsidiary will manage a portfolio of brands including L'Oreal Professional, Kerastase, L'Oreal Paris, Garnier, Maybelline New York and Vichy.
"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 & Middle East Zone L'Oreal.
Al Naghi group has been L'Oreal's sole distributor in Saudi Arabia since 2000, for its consumer products, active cosmetics and professional products divisions. L'Oreal's products have been available in Saudi Arabia since 1982.
"Our partnership with L'Oreal for more than ten 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, Naghi Group.