RIYADH, Saudi Arabia, December 20, 2022 /PRNewswire/ — Al Hassan Ghazi Ibrahim Shaker Co. (“Shaker”, the “Group” or the “Company”), Saudi Arabia a leading importer, manufacturer and distributor of air conditioners and home appliances, has expanded its long-term strategic partnership with LG Electronics (“LG”) with a new supply agreement that will include home appliances and home entertainment products – ie. televisions, refrigerators, washing machines, dryers, dishwashers, microwave ovens and more – for the Saudi market.
The new supply agreement takes effect from January 1, 2023 and enable Shaker to offer LG’s full range of products equipped with advanced technology designed to meet evolving consumer needs and values, further expanding its extensive retail and e-commerce offering across the Kingdom. In line with Shaker’s sustainability program, LG’s product range boasts innovative technologies and energy-saving solutions that reduce the amount of carbon emissions through product use.
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 joint ambitious growth plans for the Kingdom to foster local talent, maximize local technology and deliver innovative products that meet consumer needs.” The deal is also a major step in expanding Shaker’s product portfolio to ensure we meet the growing demand for high-quality home appliances and home entertainment products in Saudi Arabia. Importantly, our joint approach to offering energy-efficient products and maximizing local content is also aligned with the Kingdom’s vision and path to zero.”
Shaker has had a unique joint venture with LG for over 20 years as the sole distributor of LG air conditioners in Saudi Arabia. Over the years, the partnership also led to the establishment of an air conditioning plant with a capacity of one million units while strengthening and improving the competitiveness of the industrial sector in the Kingdom in line with the national industrial strategy as part of the vision 2030’s National Industrial Development and Logistics Program.
About Shaker
Shaker was founded in 1950 and was among the first in Saudi Arabia to introduce air conditioners and home appliances to consumers in Saudi Arabia. Shaker is an importer and distributor of several leading international brands including Maytag, Ariston, Indesit, Midea and Bompani in Saudi Arabiaand 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 in the Saudi Exchange (Saudi Exchange) since 2010. Over the years, Shaker has established its name among the top Saudi companies by offering 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
