A Legacy of Success, a Future of Growth

Unlocking Long-term Value Through Tradition, Innovation, & Growth

Al Majed for Oud builds on decades of industry expertise, a strong market position, and a commitment to innovation and growth. Our unique heritage, evolving product portfolio, and focus on market expansion provide a solid foundation for long-term value creation.

company

Al Majed for Oud in numbers

  • 30.4%

    increase in Company’s revenues as of 2023G

  • 31.7%

    CAGR between 2021G to 2023G

  • 66.6%

    Gross profit margin in 2023G

  • 19%

    Net income margin in 2023G

Investment Highlights
Regional leader in the field of perfumes with expertise in offering the finest types of fragrances
  • The Company is a leading manufacturer and developer of perfume and oud products in the Kingdom and, increasingly, throughout the GCC region.
  • It is well-known in the fragrance sector for its longevity (more than 60 years of expertise) and widespread presence across the region.
Well-known brand with a distinguished customer base
  • The Company offers over 650 high-quality products under 132 brands through its network of 286 Al Majed for Oud branded stores, online store and third-party e-commerce websites, as of 31 December 2023G.
  • The Company focuses on a competitive pricing strategy and maintaining product quality and an opulent appearance to attract a diverse customer base.
A wide range of fragrance products focused on customer satisfaction
  • Since its incorporation in 1982G, the Company has gained a strong reputation for market adaptability in the region, focusing on the development of new scents, which has contributed to the Company’s growth and consumer loyalty.
  • The Company has developed a consumer-centric business model with a focus on thoroughly researching and understanding market trends and an unwavering commitment to product development to ensure a continuous supply of innovative and captivating fragrances.
Seamless omnichannel and extensive store network across the GCC
  • The Company owns and operates 237 stores throughout the Kingdom, as well as 49 outside the Kingdom, including in Kuwait, the UAE, Bahrain and Oman, as of 31 December 2023G.
  • In addition to its store network, the Company has increased its focus on developing electronic sales platforms to keep pace with changes in customer behavior patterns and their increased reliance on online shopping. It also sells its products through third-party e-commerce websites such as Amazon, Golden Scent, and Nice One.
Access to a large and expansive market, supported by several favourable catalysts set to drive sustainable growth
  • The fragrance market is continuously witnessing significant growth, driven by increasing consumer preferences, rising disposable income, expansion of the tourism sector and growing digital adoption.

    According to the market study report prepared for the Company by the Market Study Consultant, Euromonitor International Ltd., in connection with the oud and perfume sectors in the Kingdom, the fragrance market in the Kingdom grew by a CAGR of 3.5% between 2018G-2022G to reach SAR 7.8 billion in 2022G.

  • The fragrance market is projected to increase at a CAGR of 11.3% between 2023G and 2027G, reaching SAR 13.4 billion in 2027G, according to the Market Study.
  • In addition, technological advancements like 3D printing of personalized perfume bottles, or the use of artificial intelligence to create niche and personalized scents, are anticipated to stimulate future development.
Strong financial position driven by a growth-focused strategy
  • Strong top-line performance over the years has been a key focus for the Company, driven by self-growth, portfolio expansion and expanding its geographic footprint in the long term. The Company’s revenues have grown consistently over the last several years, from SAR 442 million in 2021G to SAR 767 million in 2023G, a CAGR of 31.7%. This growth comes in line with the Company’s strategy and previously-established plans to increase revenues.
  • The Company has consistently delivered strong free cash flow throughout its history, and this has become an important strength in the market place.
  • The Company has maintained a disciplined capital policy, developing its business without substantial debt financing. This strong balance sheet provides speed and flexibility when pursuing growth and investment opportunities, while ensuring liquidity and financial stability are not compromised.
Importation expertise and distinct strategic partnerships with suppliers and manufacturers
  • The Company works with over 70 suppliers and manufacturers to deliver diverse, high quality products. With a long-standing history in the Kingdom, it has strategic relationships with leading international suppliers, including the five largest global fragrance and flavor ingredient companies.
  • The Company has developed significant expertise in sourcing and importing specialized ingredients and components for the creation of fragrances, enabling efficient and flexible operations.
Visionary founders and experienced management team
  • Founded by individuals with deep expertise in the fragrance sector, the Company is managed by a highly experienced team with extensive industry knowledge.
  • The management team possesses strong knowledge of the Kingdom’s and regional fragrance sector, including trends and the competitive environment. They are well-equipped to drive future growth and expansion, having successfully opened more than 173 stores since 2019G and entered key new markets.
  • The management oversees the entire value chain, focusing on operational efficiency. Their clear vision for growth ensures organizational continuity and supports the Company’s long-term sustainability.
Useful Resources
  • September 5, 2024

    Prospectus

    Download 4.51 MB, pdf
  • August 19, 2024

    IPO Factsheet

    Download 2.96 MB, pdf
  • August 19, 2024

    Intention to Float Press Release

    Download 3.18 MB, pdf
Investor Relations Contact

For enquiries and additional information, please call or email our Investor Relations team

Investor Relations Contact
Headquarter Address
  • 8279 Al Hafouf Street
  • Al Sahafah District 4299
  • 13321, Riyadh
  • Saudi Arabia