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Saudi Arabia's Beauty Market Continues Growth, Attracts Foreign Companies

November 7, 2014: 12:00 AM EST
Saudi Arabia's cosmetics market is the largest in the Middle East, valued at more than SR60 billion annually, and is enticing foreign companies to invest in the country. Market growth is driven by large disposable income, a young population, a large presence of multinational beauty brands, and a continuously expanding retail sector. On average, the country's women, who account for 42 percent of the national population, spend SR14, 256 annually on cosmetics, according to Euromonitor. During the past four years, large retailers, such as the UK's Boots and the United States' Bath & Body Works, have launched their operations in the Kingdom. L'Oreal, for its part, expanded its product offering and introduced cosmetics supplements in 2012.
"Booming KSA beauty market attracts investors", Arab News, November 07, 2014, © Arab News
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