Saudi Competition Authority approves JV to sell, distribute Gucci products

G Distribution will own 75% of the shares in the company, while Al Rubaiyat Company will own 25%

  
Image used for illustrative purpose. In Saudi Arabia, Riyadh

Image used for illustrative purpose. In Saudi Arabia, Riyadh

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RIYADH: Saudi Arabia’s General Authority for Competition gave the green light for a joint venture between G Distribution B.V and Al Rubaiyat Co. for Industry & Trade Holding to sell and distribute Gucci products in the Kingdom.

G Distribution Company will own 75 percent of the shares in the company, while Al Rubaiyat Company will own 25 percent, Argaam reported.

The Kingdom’s competition authority has approved 13 joint projects since the beginning of this year.

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