Shaker and LG Expand Long-Term Partnership With New Supply Agreement For Home Appliance and Home Entertainment Products
RIYADH, Saudi Arabia, Dec. 20, 2022 /PRNewswire/ -- Al Hassan Ghazi Ibrahim Shaker Co. ("Shaker", the "Group" or the "Company"), Saudi Arabia's leading importer, manufacturer, and distributor of Air Conditioners and Home Appliances, has expanded its long-term strategic partnership with LG Electronics ("LG") through a new supply agreement that will include home appliance and home entertainment products – namely televisions, refrigerators, washing machines, dryers, dishwashers, microwave ovens and more – for the Saudi market.
The new supply agreement will come into effect from 01 January 2023 and enable Shaker to offer LG's full product range equipped with cutting-edge technology designed to meet the evolving needs and values of consumers, further expanding its comprehensive retail and e-commerce offering across the Kingdom. In line with Shaker's sustainability agenda, LG's product range boasts innovative technologies and energy-efficient solutions that reduce the levels of carbon emission through product usage.
Mr. Mohammed Ibrahim Abunayyan, CEO of Shaker Group, said:
"This new supply agreement with LG is a key milestone in our long-term partnership as we continue to support our shared ambitious growth plans for the Kingdom to grow local talent, optimize local technologies and deliver innovative products that meet the needs of consumers. The agreement is also a major step in expanding Shaker's portfolio mix to ensure that we cater to the growing demand for high-quality home appliances and home entertainment products in Saudi Arabia. Importantly, our shared approach to offer energy-efficient products and maximize local content is also aligned with the Kingdom's vision and journey to net zero."
Shaker has had a unique joint venture with LG for more than 20 years as the sole distributor of LG air conditioners in Saudi Arabia. Over the years, the partnership also resulted in the establishment of an air conditioning factory with a capacity of one million units while empowering and improving competitiveness of the Kingdom's industrial sector in line with the National Industrial Strategy as part of Vision 2030's National Industrial Development and Logistics Program.
About Shaker
Shaker was founded in 1950 and was amongst the first in Saudi Arabia to introduce Air Conditioning & Home Appliances for Saudi consumers. Shaker is the importer and distributor of several leading international brands including Maytag, Ariston, Indesit, Midea, and Bompani in Saudi Arabia, and the sole distributor of LG Air Conditioners in Saudi Arabia. ESCO, as a business unit of Shaker, provides Energy Solutions. Shaker has been a publicly listed company on the Saudi Exchange (Saudi Exchange) since 2010. Throughout the years, Shaker has positioned its name among the top Saudi companies, providing a range of integrated solutions in terms of Air Conditioners and Home Appliances in the Saudi market and the region. For more information, visit: http://www.shaker.com.sa/
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SOURCE Shaker
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