SAUDI ARABIA – Aiming to inspire and enhance women’s well-being in the Kingdom of Saudi Arabia, the Public Investment Fund (PIF) has formed a new company called Kayanee.
PIF has tapped Her Royal Highness Princess Reema Bint Bandar Al Saud to head Kayanee as part of the Fund’s efforts to enhance the health and well-being of women across the region.
According to the Public Investment Fund, the creation of the new company is designed to bring unique lifestyle-integrated perspectives closer to women in the Kingdom of Saudi Arabia.
Kayanee will focus on women’s health and lifestyle of future generations through six offerings including fitness, apparel, personal care & treatments, nutrition & diagnostics, healthy eating and learning.
In a press release, the Public Investment Fund stated: “Chaired by HRH Princess Reema Bint Bandar, Kayanee will adopt a female-focused approach to all its services, prioritizing mental, physical, and social health.”
The new company will act as a catalyst for the rapid growth of health, well-being, and fitness in the Kingdom of Saudi Arabia.
As a result, Kayanee is anticipated to support the development of the health, well-being, and fitness industry through collaboration with the private sector and across the value chain.
Kayanee has the potential for improving mass participation in a variety of female-focused activities through a world-class digital platform.
This world-class digital platform will become the main gateway for Kayanee’s customers by providing a seamless connection between in-person and online services.
Moreover, Kayanee is the newest addition to PIF’s growing portfolio of companies as the Fund explores new investment opportunities in the Middle East and North Africa (MENA).
On his part, the Head of MENA Direct Investments at PIF Raid Ismail said: “Kayanee will serve to expand Saudi Arabia’s SAR16 billion (US$ 4.26 billion) fitness and well-being industry.”
This world-class digital platform will become the main gateway for Kayanee’s customers by providing a seamless connection between in-person and online services.
As part of the Vision 2030 plans, the Saudi Government launched the National Transformation Plan, which focuses on promoting health and wellness among people in the country and improving the number of physically active people in the Kingdom, from 13% to 40% by 2030.
PIF’s integrated fitness and well-being company, Kayanee, is projected to contribute to the Fund’s strategy to unlock the capabilities of promising sectors, such as the health and fitness segments.
In line with the Saudi Vision 2030 ambition to create a vibrant society, the newly formed company aims to reach over one million consumers.
Kayanee aims to become a world-leading, tech-driven wellness company focused on women’s health and lifestyle in the Kingdom of Saudi Arabia.
Lifera will produce life-saving and essential pharmaceutical products through PIF’s manufacturing facilities located within the Kingdom of Saudi Arabia to create new job opportunities.
Commenting on the new venture into Saudi Arabia’s fitness and well-being industry, Raid Ismail said: “It is a very exciting time for PIF to venture into women’s fitness, wellness, and well-being, and Kayanee is well positioned to enable the industry through its integrated offering, which will see the company partner with the growing private sector to create a vibrant society.”
Through the establishment of Kayanee, PIF will revitalize efforts in unlocking the capabilities of promising sectors, localizing technology, enabling the private sector, driving the diversification of the local economy, and, ultimately contributing to enhancing the quality of people’s lives.
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