In Shops

Nature Republic taps into Saudi Arabian beauty market

NR

South Korea’s budget cosmetics brand Nature Republic Co. has opened its first outlet in Saudi Arabia with hopes to expand its presence in the Middle East market.

Nature Republic said that its flagship 30-pyong (99.2 square meters) store opened in Al Nakheel Mall, one of the largest shopping malls in Riyadh, the capital and most populous city in Saudi Arabia.

SEE ALSO : Nature Republic opens store in Indonesia

Under a partnership agreement with the retailer Fawaz Alhokair Group that runs the mall, Nature Republic will open four more stores in Saudi Arabia.

With the latest opening in Saudi Arabia, Nature Republic now has stores in 18 countries including one in Jakarta, Indonesia, which opened in January.

The cosmetics market in the Middle East is projected to reach US$36 billion in 2020. The market in Saudi Arabia, in particular, has been growing at an annual average of 15 percent in recent years.

Nature Republic said that it took two years of preparation before launching business in the conservative Muslim country where women mostly cover their faces with niqabs. The company has completed electronic communication system registration of 650 cosmetics items.

“We have thoroughly prepared for nearly two years, conducting various surveys and setting marketing strategies, to tap the Saudi Arabian market,” an official said.

SEE ALSO : Amorepacific Q1 net profit plunges 21%

An unnamed official from Nature Republic said that the company has tested out Muslim community through inroads into Indonesia early this year. The company plans to manage a total five stores in major cities in Saudi Arabia and plans to advance into oil-producing Gulf Cooperation Council countries with high spending power.

Nature Republic now has stores in 18 overseas countries, including China and Vietnam.

(Source: Pulse News)

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