L’Oréal For the Future Summit: Sustainability milestones and commitments set out by company’s leaders

Laurent Duffier, managing director of L’Oréal Middle East (AN)
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Updated 22 November 2022
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L’Oréal For the Future Summit: Sustainability milestones and commitments set out by company’s leaders

  • The L’Oréal For the Future Summit stems from the group’s continued efforts towards sustainability
  • Consumers increasingly want brands that have a purpose, brands that are here to give back to the society and help with the environmental challenge

DUBAI: As governments, policymakers, and activists gathered at the UN Climate Change Conference in Egypt to address environmental challenges, L’Oréal Middle East held its first L’Oréal For the Future Summit addressing questions around the same topic.

In an interview with Arab News en franҫais, Laurent Duffier, managing director of L’Oréal Middle East, and Rohini Behl, the firm’s head of sustainability for South Asia Pacific, Middle East, and North Africa, shared their insights on industry trends affecting the region, and the group’s sustainability milestones and commitments.

The group is committed to achieve 100 percent carbon neutrality on all industrial sites by 2025, recycling and reusing 100 percent of industrial water and waste generated on sites by 2030 and driving initiatives supporting sustainability efforts and discussions in line with COP27.

Key trends influencing the beauty industry

The beauty industry is constantly evolving with a change in consumer behavior and preferences, and a shift towards more sustainable products. The post-COVID-19 period witnessed a rise in demand for certain categories of products, such as skincare, and dermo-cosmetics.

The pandemic also triggered an acceleration of the shift towards health focused consumption. “People want to take care of themselves, and skin care is one of the categories which enables you to do so,” declared Duffier.

The attention to well-being and ways of achieving it is influencing supply in an increasingly sophisticated market, one also driven by the boom of ecommerce in the region, giving consumers access to a wider range of brands.

The advent of new digital services is another element fueled by the pandemic. “You can assess your makeup on your smartphone before you buy it, and receive an immediate diagnosis,” added Duffier.

The final macro trend observed in the market is “that consumers increasingly want brands that have a purpose, brands that are here to give back to the society and help with the environmental challenge, having a stance on all these issues become the criteria of choice,” said the managing director.

On a regional level, ecommerce – accounting for about 30 percent of L’Oréal business around the world – and the dermo-cosmetics market are growing in line with the global trend. “In Saudi Arabia, L’Oréal is witnessing an acceleration of the online market. Fragrances and hair treatments have been very dynamic particularly over the past few months, and on the rise since 2021,” he added.

Sustainability initiatives

The L’Oréal For the Future Summit stems from the group’s continued efforts towards sustainability, which started with a program called Sharing Beauty with all. Ending in 2020, the program gave way to another called L’Oréal for the future.

“We need to act, we need to act fast altogether — companies, governments, individuals — to do our best to reduce global warming,” declared the managing director.

While the first focused on the reduction in carbon emissions and monitoring the group’s footprint while growing the business  — L’Oréal increased the number of units produced by around 30 percent, while decreasing the carbon emissions by 80 percent — L’Oréal for the future is a comprehensive program that goes across the whole life cycle of the product from the formulation and production to the consumption and followed by recycling.

In addition to achieving carbon neutrality across sites by 2025, the group implemented a technology called “waterloop factories” enabling factories to recycle water indefinitely during the production process.

Several initiatives are being deployed locally. One focuses on water management, aimed at reducing by 60 percent the volume of water used in the hair salons in the region, with the technology implementation in Saudi Arabia and the region expected for January 2023.

The second initiative is about woman empowerment: a project with the hairdressing industry in the Kingdom. “Historically it relied on expats. With the Vision 2030 and the focus on increasing women participation and access to employment across industries there is a need to train thousands of Saudi hairdressers over the coming years,” highlighted Duffier.

L’Oréal partnered with the Princess Nora University to create a training program for hairdressers for Saudi women. “A six-months program which caters to the whole métier of hairdressers and 80 percent of the graduates got immediately a job,” he added.

The third initiative involves recycling 92 tons of plastic to celebrate the 92nd anniversary of Saudi, a project led by Garnier, in partnership with a Saudi plastic recycling company.

Plastic recycling is expected to be amplified to reach the Group’s 2030 target whereby 100 percent of the plastic used should be recycled or biobased.

“It’s our duty to help the ecosystem to recycle more plastic, because one of the challenges we have today is that there is not enough recycled plastic on the market,” added Duffier.

Providing innovative products, raising awareness, and communicating with consumers is essential in the transition towards more sustainable behavior.

Solidarity sourcing and the regeneration of nature

Another program called solidarity sourcing works with communities and growers. “The objective is to move our ingredients from sourcing to regeneration, part of that is also a social inclusion program and the impact that it has on communities,” declared Rohini Behl.

The SAP-MENA region is significant for the group, especially with the shift in global supply chains and the necessity to find alternative sourcing sites. The zone, extending from Morocco to Melbourne, is strategic in terms of growth and consumer base. “We must make sure that we are growing in a responsible way in these markets which have multicultural and different footprints,” she added.

This year, L'Oréal had an exceptional growth of 13.5 percent year on year in comparable sales and 20.9 percent increase in reported sales.

Investment in research and development is key in the green transition. Historically, the offering was based on chemicals, but today, consumer’s preferences are shifting towards more natural products, driving the group’s commitment to produce 95 percent from its formula from abundant minerals or bio-based ingredients by 2030.

“As consumers are still going to want to consume, we have to limit emissions and to make investments in nature regeneration,” added Rohini.

To this end, and to give back to the community, L’Oréal dedicated a fund for the regeneration of nature with a €50 million ($51.45 million) fund, which looks to preserve a million hectares of land. These will be the carbon sinks for the future.


Saudi Arabia launches global platform to shape future of tourism 

Updated 22 May 2025
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Saudi Arabia launches global platform to shape future of tourism 

RIYADH: Saudi Arabia has launched TOURISE, a global platform connecting leaders in tourism, tech, investment, and sustainability, as it positions itself to shape future travel policy and innovation. 

The platform, officially introduced by Minister of Tourism Ahmed Al-Khateeb, will serve as a year-round initiative to unlock investment opportunities, address sector-wide challenges, and develop policies to guide the next phase of global tourism growth.  

The launch aligns with Saudi Arabia’s broader push to become a global tourism hub, backed by major infrastructure investments, streamlined visas, and high-profile events. In 2024, Saudi Arabia hit its Vision 2030 target of 100 million visitors — seven years early — with tourism now contributing nearly 5 percent to gross domestic product. 

Speaking during the virtual launch, Al-Khateeb said: “Tourism is one of the most dynamic, connective forces in the world’s economy, supporting one in ten jobs globally. But as the world evolves, the sector must too.”  

He added: “Whether adapting to technological disruption and changing traveler expectations, to addressing the urgent calls for sustainability and a more equitable approach to travel, TOURISE will be the much-needed platform to shape the future of tourism.”  

TOURISE will be supported by an advisory board composed of global figures from the tourism, hospitality, and technology, as well as entertainment and investment sectors. 

According to the official press release, TOURISE will also form working groups focused on key themes and will publish white papers and global indices in collaboration with international organizations. 

The first TOURISE Summit will take place in Riyadh from Nov. 11-13. The event will explore four major areas: the role of artificial intelligence in tourism, investment and business model innovation, travel experience upgrades, and inclusive and sustainable tourism practices.  

An Innovation Zone will spotlight emerging technologies from both public and private sector firms. 

An accompanying awards program will recognize destinations and organizations that demonstrate leadership in categories such as sustainability, digital transformation, cultural preservation, inclusive tourism and workforce development.  

Nominations for the awards are scheduled to open on June 2, with winners to be announced on the summit's opening day. 

“For this industry to evolve and reach its full potential, public-private sector collaboration is critical to the continued success of Travel & Tourism worldwide,” said Julia Simpson, president and CEO of the World Travel & Tourism Council and a member of the TOURISE advisory board.  


Egypt central bank cuts key interest rates by 100 basis points, statement says

Updated 22 May 2025
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Egypt central bank cuts key interest rates by 100 basis points, statement says

CAIRO: Egypt’s central bank lowered its key interest rates by 100 basis points on Thursday, its second rate cut in 2025 after keeping rates unchanged for a year.


Closing Bell: Saudi main index ends lower at 11,188

Updated 22 May 2025
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Closing Bell: Saudi main index ends lower at 11,188

  • MSCI Tadawul 30 Index lost 12.2 points to close at 1,428.81
  • Parallel market Nomu declined by 156.89 points to end at 27,260.73

RIYADH: Saudi Arabia’s Tadawul All Share Index closed in the red on Thursday, falling 114.94 points, or 1.02 percent, to settle at 11,188.74.

The total trading turnover reached SR4.4 billion ($1.17 billion), with 76 stocks advancing and 165 declining.

The MSCI Tadawul 30 Index also dropped, losing 12.2 points, or 0.85 percent, to close at 1,428.81.

The Kingdom’s parallel market Nomu declined by 156.89 points, or 0.57 percent, to close at 27,260.73, with 29 stocks gaining and 49 retreating.

The best-performing stock of the day was Saudi Reinsurance Co., rising 3.70 percent to SR49.

Other top gainers included Al-Rajhi Company for Cooperative Insurance, whose share price rose 3.65 percent to SR119.2, and Umm Al-Qura Cement Co., which gained 3.42 percent to SR17.54.

The day’s largest decline was seen in SHL Finance Co., with its share price dipping 4.93 percent to SR19.30.

Al-Etihad Cooperative Insurance Co. saw its shares drop 3.86 percent to SR13.44, while Saudi Arabian Oil Co. declined 3.64 percent to SR25.15.

The best performer on the Kingdom’s parallel market was Enma AlRawabi Co., with its share price surging by 7.77 percent to reach SR24.98.

Lamasat Co.’s share price increased by 7.58 percent to reach SR7.1, and Natural Gas Distribution Co. reached SR47, increasing by 6.82 percent.

Albattal Factory for Chemical Industries Co. was the worst performer on the parallel market, declining 16.83 percent to reach SR42.


Aramco, stc drive Saudi brands’ value up 14% to $117bn, new report shows 

Updated 22 May 2025
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Aramco, stc drive Saudi brands’ value up 14% to $117bn, new report shows 

  • Energy, banking, and telecommunications represent nearly 74% of the total brand value in the rankings
  • Dairy producer Almarai is recognized as the Kingdom’s third strongest brand

RIYADH: Saudi Arabia’s top 100 brands reached a combined valuation of $116.8 billion as of January, up 14 percent year on year, led by energy giant Aramco and telecom operator stc, according to a new report.

Marketing consultancy firm Brand Finance said Aramco retained its position as the Kingdom’s most valuable brand for the sixth consecutive year, with a valuation of $41.7 billion.

The company’s strength stems from its global oil production capabilities and investments in low-carbon technologies. 

Aramco retained its position as the Kingdom’s most valuable brand for the sixth consecutive year. Shutterstock

The Kingdom’s economy remains heavily influenced by its core sectors — energy, banking, and telecommunications — which together represent nearly 74 percent of the total brand value in the rankings. This sector concentration underscores Saudi Arabia’s ongoing economic diversification efforts as part of its Vision 2030 strategy. 

Andrew Campbell, managing director, Brand Finance Middle East, said: “Saudi Arabia’s brand landscape is evolving at an impressive pace, driven by bold strategies, innovation, and a clear vision for the future.” 

He added: “From long-standing powerhouses like Aramco and stc to fast-rising brands like Saudia and Almarai, there’s a real sense of momentum across sectors. These brands are not only contributing to the Kingdom’s economic transformation but also setting new benchmarks for excellence in the region and beyond.” 

The report further revealed that stc ranked as the Kingdom’s second most valuable brand in 2025, with a valuation of $41.7 billion, up 16 percent year on year. 

This growth is primarily linked to the successful implementation of its Masterbrand strategy, which facilitated expansion into sectors like banking, cybersecurity, B2B, and IT services through strategic mergers and acquisitions. 

stc ranked as the strongest brand in Saudi Arabia, earning a Brand Strength Index score of 88.7 out of 100 and an AAA rating. File/Reuters

The report by the London-based brand valuation consultancy showed that stc is also ranked as the strongest brand in Saudi Arabia, earning a Brand Strength Index score of 88.7 out of 100 and an AAA rating. Its continued investment in 5G infrastructure and digital financial services has solidified its position as a telecom leader. 

An AAA rating is the highest possible credit or brand strength rating, indicating robust reliability, quality, and performance. 

With brand value up 20 percent to $4.7 billion, Dairy producer Almarai is recognized as the Kingdom’s third strongest brand, earning a Brand Strength Index score of 85.5 out of 100 and an AAA brand strength rating. 

Almarai is also ranked as the top brand in Saudi Arabia for environmental, social, and governance performance. Almarai

This follows the brand’s collaboration with Google Cloud, launched in November, which is driving its digital transformation and enhancing operational efficiency. 

Almarai is also ranked as the top brand in Saudi Arabia for environmental, social, and governance performance, underscoring its strong commitment to ethical business practices, sustainable farming, and reducing carbon emissions. 

As for Saudia, its brand value surged by 34 percent to reach $1.1 billion in January, making it the fastest-growing Saudi brand and marking its first time crossing the billion-dollar milestone. 

Saudia’s brand value surged by 34 percent to reach $1.1 billion in January. Wikipedia

This achievement is largely attributed to the airline’s bold rebranding, along with advances in AI-driven customer service and infrastructure upgrades, which have significantly boosted its global brand visibility. 

The report further revealed that ROSHN Group, with a brand value of $1.1 billion, is the highest-ranked new entrant in the Kingdom this year. It also became the most valuable real estate brand in the country and secured a place among the top 20 brands overall. This debut reflects the company’s strong financial performance and ambitious expansion strategy. 

“Saudi Arabia’s brand landscape is evolving at an impressive pace, driven by bold strategies, innovation, and a clear vision for the future. It’s particularly exciting to see new entrants like ROSHN Group make such a strong debut, showing that diversification and ambition are paying off,” Campbell added. 


Saudi Arabia doubles funding to Union of Arab Chambers

Updated 22 May 2025
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Saudi Arabia doubles funding to Union of Arab Chambers

  • Expanded support will significantly enhance UAC’s capacity to deliver programs and initiatives empowering the Arab private sector
  • FSC and UAC are working to boost intra-Arab trade and expand access to third markets

JEDDAH: Saudi Arabia has doubled its financial contribution to the Union of Arab Chambers, a decisive move aimed at reinforcing regional economic integration and boosting private sector cooperation across the Arab world.

The Federation of Saudi Chambers announced the increase on Tuesday, stating that the expanded support will significantly enhance the UAC’s capacity to deliver programs and initiatives that empower the Arab private sector and foster closer economic ties among member states.

The decision underscores the Kingdom’s growing leadership role in regional economic affairs and comes at a time when calls for deeper intra-Arab collaboration are intensifying. A 2023 report from the UN Economic and Social Commission for Western Asia warned of declining exports and over-reliance on limited markets, urging Arab countries to diversify and strengthen intra-regional trade.

Despite shared economic interests, intra-Arab trade made up just 13.8 percent of the region’s total foreign trade by late 2024—a figure FSC President Moejeb Al-Hwaizy described as “modest” in comparison to other global economic blocs. Al-Hwaizy was elected first vice president of the UAC during its 135th session in Qatar.

The FSC noted that Saudi Arabia’s enhanced contribution reflects its “strategic responsibility” as the UAC’s largest financial backer and soon-to-be president. “This is an extension of the federation’s role in supporting the private sector at the local, regional, and international levels,” it said.

The Kingdom’s leadership in the UAC, founded in 1951 and comprising chambers from all Arab League member states, highlights its broader ambition to promote joint Arab economic action, unlock cross-border investment, and facilitate closer coordination among private sector leaders.

With several joint initiatives already underway, the FSC and UAC are working to boost intra-Arab trade and expand access to third markets through business partnerships and strategic cooperation.

As the only Arab country in the G20 and the region’s largest economy, Saudi Arabia’s growing influence in Arab economic institutions signals its continued commitment to fostering unity and resilience in a rapidly evolving global trade environment.