Chalhoub Group has signed a joint venture agreement with French certified-organic skincare brand Patyka, marking its entry into the retail pharmacy sector.
The joint venture is expected to develop the regional skincare market and modernise the sector.
Skincare is projected to be the fastest-growing category in the beauty industry, insights from Chalhoub Group’s research indicates.
The pharmacy skincare sector in the GCC is worth approximately US$1 billion.
With the rising demand for clean and sustainable brands, Patyka will introduce a range of organic products to meet regional consumers’ needs.
Patyka belongs to Finoli, a French industrial conglomerate founded in 2008, mainly active in the fields of beauty, well-being and healthcare.
Michael Chalhoub, president of joint ventures and strategy, growth, innovation and investment at Chalhoub Group, said: “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. 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.”
Pierre Juhen, chief executive at Finoli Group, said: “We are excited to partner with Chalhoub Group and bring Patyka to the Middle East market. Patyka is committed to long-term investments and strategic partnerships, and we believe that our joint venture will bring a key brand to the region, continuing to address the evolving needs of customers and meeting the growing demand for high-quality, science-backed clean beauty products built on a foundation of ethics.”
As part of Patyka’s international expansion and through this long-term partnership, Chalhoub Group aims to make Patyka’s product line available at pharmacies and stores across the UAE, Bahrain, Qatar, Kuwait, and Saudi Arabia by June.
