GAC approves JV to sell, distribute Gucci products in Saudi Arabia

04/12/2021 Argaam

Saad Al Masoud, GAC Spokesman

Saudi Arabia’s General Authority for Competition (GAC) approved forming a joint venture (JV) between G Distribution B.V and Al Rubaiyat Co. for Industry & Trade Holding to sell and distribute Gucci products in the Kingdom.

 

In a statement, the authority said G Distribution will own 75% of the JV, while Al Rubaiyat will hold the remaining 25%.

 

The authority approved 13 JVs since the beginning of 2021.

 

GAC Spokesman Saad Al Masoud. said he does not expect any concerns affecting competition in the market as the market shares of the companies operating in the luxury brand market will not change after the deal.

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