O Boticario, the Brazilian based cosmetics, fragrances and skin care company, has agreed to license its exclusive brand rights to Millennial Capital Ltd to facilitate expansion in the Gulf region.
The first O Boticario branded store in the UAE is expected to be open in September in Mirdif City Center, followed by a second location by the end of the year, a statement said.
O Boticario and Millennial Capital Ltd have agreed on the UAE development plan which will include a minimum of five locations for branded stores, online partnerships with e-commerce portals, and stores in stores targeting the departmental stores and pharmacies.
It is expected that by no later than the end of 2019, Millennial Capital will aim to expand O Boticario operations in Saudi Arabia.
O Boticario is the second largest Brazilian cosmetic company with a 20 percent market share in Latin America. Globally, it has 4,070 stores in Brazil, Portugal, Colombia, Bolivia, Paraguay, Costa Rica, Venezuela, Japan.
Andrea Gutierrez, Grupo Boticario, said: ”We are very excited with the partnership with Millennial Capital Ltd and with the idea of bringing our products and new store concept to the region, we see a big potential in the UAE and other GCC markets and we believe our brand will add with a differentiated value proposition for our customers in this part of the world.”
Andreea Danila, founder and managing director of Millennial Capital Ltd, added: “We are delighted to partner with the world largest cosmetics franchise and introduce them in the UAE.”For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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