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2024 Sales and results - Press Release
Groupe SEB announces the strengthening of its presence in Saudi Arabia with the acquisition of a 55% stake in its Saudi distributor – Alesayi Household Appliances Co. LLC – a subsidiary of Alesayi Holding Group that exclusively sells the Groupe SEB's Consumer products on a local basis since 2009. This partnership aims to unlock future growth opportunities in the Saudi market through the local expertise of Alesayi Holding.
For nearly 15 years, Groupe SEB has had a longstanding partnership with Alesayi Holding, a leading player in the Saudi Arabian market. Headquartered in Jeddah, Alesayi Holding has steadily expanded its operations across diverse sectors, including Engineering & Technology, Real Estate & Asset Development, Consumer & Trading, Electronics, Investment, and Partnerships. This broad portfolio has fostered a strong reputation in the market and in-depth product knowledge, making it a natural fit for Groupe SEB. Moreover, Alesayi Holding's extensive distribution network encompasses hypermarkets, traditional retail, trading, and e-commerce, ensuring comprehensive reach for Groupe SEB's products throughout Saudi Arabia.
This new Groupe SEB subsidiary will continue importing and distributing TEFAL and MOULINEX Consumer brand products in the segments of cooking, linen and home care, cookware as well as food and beverage preparation. It will enable Groupe SEB to accelerate the development of its sales in Saudi Arabia and to make the most of the strong growth potential of this market.
Thanks to its solid global foothold in 150 countries – which includes Egypt, Morocco and now Saudi Arabia – Groupe SEB demonstrates its ability to develop long-term strategic partnerships with reliable partners committed to growth, with established relationships and reach, therefore strengthening the Group's worldwide presence.
Commenting on the partnership, Thierry de La Tour d’Artaise, Chairman of Groupe SEB said:
We share the same values and objectives with the Alesayi family. Combining our know-how and expertise with our historic distributor partner, and unlocking synergies, will certainly enable us to consolidate our position in a very dynamic and promising country, where we have great ambitions. Groupe SEB's mission is to make life easier for consumers, and we want to be even more at the heart of all Saudi families everyday life.
Alesayi Holding Board Member, Mohammad Omar Kassem Alesayi, stated that :
This partnership represents a strategic direction for Alesayi Holding; solidifying our commitment to growth and innovation within Saudi Arabia. By strengthening our collaboration with Groupe SEB, which shares our vision and amibition, we are creating sustainable value for our stakeholders and actively contributing to the success of Saudi Vision 2030.
In addition, the CEO of Alesayi Holding, Eng. Hany Habashy, highlighted the results of this partnership saying:
This partnership illustrates the great shared value of Alesayi Holding and Groupe SEB, which is to improve the quality of life of Saudi consumers. We prioritize customer satisfaction, innovative solutions and the delivery of world-class products and services, and we are eager to collaborate with them in crafting an outstanding customer experience, combining the excellence and comprehensive offer of their products with our localized market knowledge.
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