GAC approves JV between Jahez, Al Hilal FC to sell sportswear: Spokesperson

GAC's spokesman Saad Al Masoud

The General Authority for Competition (GAC) approved today, Aug. 28, the establishment of a new joint venture (JV) between Jahez International Company for Information Systems Technology (Jahez) and Al Hilal Club Investment Co. to sell sportswear.

In a statement, GAC noted the recognition of the agreement’s commodity dimension in the local sportswear market, in which the new JV will operate. The authority also acknowledged the geographical scope of the deal in the Saudi Arabia.

Accordingly, the authority has studied the sportswear market to determine whether there are competition concerns. In conclusion, there will be no impact on competition in the Kingdom, where the sportswear market has a large number of players.

Thus, the entry of new companies into the sportswear market will spur the competitive environment in terms of diversification and the availability of alternatives for consumers.

GAC's spokesperson Saad Al Masoud stated that this deal is the first application for economic concentration received by the authority from a sports club in the Kingdom.