| Element List | Explanation |
|---|---|
| Announcement Detail | Al-Hassan Ghazi Ibrahim Shaker Company (“Shaker” or the “Company”) has expanded its long-term strategic partnership with LG Electronics (“LG”) by announcing the signing of a new supply agreement for home appliance and home entertainment products for the Saudi market on 19/12/2022 G (corresponding to 1444-05-25 H). |
This agreement is in line with the Company’s strategy to develop its business model to meet the evolving needs and values of consumers by diversifying and expanding its brand portfolio beyond HVAC and air conditioners to include home appliance and home entertainment products from LG.
The latest retail report conducted by GfK for the Saudi Market demonstrates LG’s significant market share in TV, Dishwashers, Refrigerators, Washing Machines, Dryers & Microwave Ovens.
This agreement will enable Shaker to further fuel its growth and expand Shaker’s comprehensive retail and e-commerce offering across the Kingdom.
At this stage the financial impact of this agreement cannot be determined and Shaker will announce any meaningful developments in this regard at the appropriate time.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.