Lamasat inks contract to supply global beauty, care products

Logo of Lamasat Co.

Lamasat Co. signed an award agreement with Arabian Trading Supplies Co. for supple of beauty and care products under the brands L’Oréal Professional and Kerastase.

In a statement to Tadawul, the company said that the contract is valid for one year, and includes training programs for the company's employees in order to raise the level of performance and quality in the services provided.

The total contract value was divided into three categories, which included discount percentages.

The company noted that L'Oreal Professional products under Category 1 with total product withdrawals worth SAR 1.8 million during the year will receive an 8% discount at the end of the year.

L'Oreal Category 2 marked total product withdrawals worth SAR 2 million with a 9% discount, while Category 3 covers total product recalls worth SAR 2.3 million during the year with a 10% discount.

Kerastase products under Category 1 encompass that total product withdrawals worth SAR 3.1 million during the year, and will obtain a 6% discount at the end of the year.

Category 2 is for total product recalls worth SAR 3.3 million with a 7% discount to be received, and Category 3 includes total recall of products worth SAR 3.5 million during the year and a reduction of 8% at the end of the year.

The financial impact of the contract is expected to be reflected starting from Q1 2025 until the end of the year.