UAE – Middle East-based luxury goods retailer Chalhoub Group and French certified-organic skincare brand, PATYKA, have established a strategic joint venture (JV) agreement to expand into the retail pharmacy sector.
The two companies have signed a cooperation agreement to develop new high-quality, science-backed pharmaceutical products for the Middle East market in an eco-friendly and economical manner.
For PATYKA, the JV will enable the French brand to manufacture and market a range of science-backed, organic, and sensorality products to meet consumers’ needs in the Gulf region.
The cooperation agreement aligns with the interlinked core values of the Parisian beauty house, namely efficiency, excellence, and ethics, as it continues to address the evolving needs of customers.
In 2002, PATYKA became one of the first cosmetic brands in the world to be certified organic (ECOCERT label).
The partnership with Chalhoub Group is a testament of PATYKA’s long-term vision of developing its brand and expanding its global footprint over the next ten years.
In addition to sustainable growth, this joint venture build on Chalhoub Group’s long-term commitment to developing the regional skincare market and modernising the current selective and pharmacy channels by working with science-backed skincare brands.
“We are thrilled to have been chosen by Patyka as their partner in the Middle East, and to be given an opportunity to contribute to this great brand’s growth in our region,” said Michael Chalhoub, President Strategy, Growth, Innovation & Investment and Joint Ventures at Chalhoub Group.
The strategic deal will enable Chalhoub Group to strengthen its presence in the pharmacy skincare sector in the Gulf Cooperation Council (GCC) countries by leveraging the commercial strengths of PATYKA.
Chalhoub Group aims to make PATYKA’s product line available at pharmacies and stores across the United Arab Emirates (UAE), Bahrain, Qatar, Kuwait, and Saudi Arabia by June 2023.
According to the Chalhoub Group’s proprietary research, skincare is projected to be the fastest growing category in beauty at the moment, with the pharmacy skincare sector in the GCC valued at approximately US$1 billion.
“We share with the Patyka team similar values, this willingness to help our consumers take good care of their skin, and a vision for the long term with great quality products built in a consumer-centric way,” added Michael.
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