First O Boticario branded store in the UAE is expected to be open in September in Mirdif City Center
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.”