Shoppers in Morocco could soon have another place to buy perfumes, make-up and skincare products at competitive prices, as Spanish retailer Perfumerías Primor prepares to enter the market through a deal with local retail group One Retail. One Retail, part of H&S Invest Holding, led by businessman Moncef Belkhayat, has secured the master franchise rights to develop the Spanish chain in Morocco. The companies have not announced when the first store will open or how many outlets they plan to launch.
Founded in Malaga, Spain, in 1953, Primor is a family-owned business led by Juan Ricardo Hidalgo. It sells products ranging from affordable cosmetics to luxury perfumes and skincare. The retailer is known for its discounted prices and wide choice of brands.
Primor operates more than 200 physical stores across Spain, Portugal and Italy, as well as an online shop that ranks among Spain’s leading beauty retail websites. Its entry into Morocco would extend its presence beyond Europe into North Africa.
The deal also expands One Retail’s beauty business, which already includes Turkish make-up brand Flormar and Avon, known for its cosmetics and direct-selling network.
One Retail is part of a wider retail expansion by H&S Invest Holding, which also operates in food distribution, home improvement and food service. The group aims to reach 400 points of sale across its businesses by the end of 2027 and more than 1,000 by 2030.
It also wants to generate 10 billion Moroccan dirhams in annual revenue by 2030, equivalent to about $1bn.
The group is building on a business model that combines retail outlets with distribution and logistics. Its activities include Dislog Group, which operates in distribution and logistics, while One Retail focuses on retail networks. The group relies on a mix of private equity investment, bank financing and reinvested capital to fund its expansion.
The move comes as Morocco’s beauty and personal care market grows. The sector is estimated to be worth more than 12 billion dirhams, or about $1.2bn, supported by a young population, urbanisation, more women entering the workforce and the spread of modern shopping centres.
Primor will enter a market that includes established retailers such as Yan&One, Sephora and Marionnaud. Cosmetics are also sold through independent beauty shops, neighbourhood parapharmacies and large retailers such as Marjane and Carrefour.
Its main selling point is a discount model that brings luxury, niche and budget brands together under one roof. That approach could increase price competition, particularly among retailers that focus on premium beauty products.
H&S Invest Holding is also expanding as shopping centres and commercial developments grow in major cities, including Casablanca, Rabat, Marrakech, Tangier and Agadir. Retail developers have been seeking tenants ahead of major sporting events, including the 2025 Africa Cup of Nations and the 2030 FIFA World Cup.
Under the franchise agreement, One Retail is expected to manage the search for store locations, shop fittings, supply-chain logistics and marketing adapted to local purchasing power. Dislog Group’s existing infrastructure could support the distribution of products to the new outlets.
The companies have not yet provided details on the first locations, the investment required or the expected pace of expansion.
