Chalhoub Group signed a joint venture agreement with French certified-organic skincare brand, PATYKA, marking its entry into the retail pharmacy sector. The joint venture is set to support the 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.
Insights from Chalhoub Group’s proprietry research indicates that today, skincare is projected to be the the fastest growing category in beauty. In addition, the pharmacy skincare sector in the GCC is worth approximately US$1 billion, indicating the significance of the this market. With the rising demand for clean and sustainable brands, PATYKA will introduce a range of science-backed, organic, and sensorality products to meet the regional consumers needs.
PATYKA’s values are built on three distinct pillars: efficiency, excellence, and ethics, and is one of the first skincare beauty brands worldwide to be certified as organic. It is a leading skincare brand in France throughout pharmacies as well as perfumeries and department stores. 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 decade.
Michael Chalhoub, President of Joint Venutres and of Strategy, Growth, Innovation and Investment at Chalhoub Group stated: “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 Officer at Finoli Group, commented: “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 2023.