April 25, 2024

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[THE INVESTOR] E-mart, Korea’s largest discount chain operator, said on Nov. 23 its beauty brand will open a store in Saudi Arabia next year.

The company said it signed an agreement with the Middle Eastern country’s major retail group Fawaz Alhokair to open its beauty store Scentence at a shopping mall operated by the Saudi firm.

The store is likely to open in the Saudi capital city of Riyadh in March next year at the earliest, E-mart said. It plans to open up to five more stores by 2018.

The Korean retailer has been pushing to tap deeper into foreign markets after withdrawing its business from China.

By Alex Lee and newswires (alexlee@heraldcorp.com)