S\u00e3o Paulo \u2013 The Brazilian cosmetics company O Botic\u00e1rio has licensed its brand for Millennial Capital Ltd, which will now manage the retail section in the United Arab Emirates. The brand\u2019s first store will be opened in September, in Dubai, in the Mirdif area. Until the end of the year, the brand plans to open a second store in the emirate.<\/p>\n
The companies\u2019 development plan for the UAE is to open five brick-and-mortar stores throughout the next five years, plus online partnerships with local cosmetics portals, and the implementation of the store-in-store strategy in pharmacies and department stores. Until the end of 2019, O Botic\u00e1rio is planning to expand its business to Saudi Arabia.<\/p>\n
\u201cThe O Botic\u00e1rio brand has an enormous potential in the region [Arab Gulf], given that its portfolio includes fragrances, cosmetics and high-quality products with affordable prices,\u201d said in a statement the founder and managing director of Millennial Capital Ltd, Andreea Danila. \u201cWe\u2019re confident that the launch in the United Arab Emirates will be a success case to be reproduced soon in other places in the Gulf,\u201d she concluded.<\/p>\n
The cosmetics sector is estimated to be worth USD 444 billion, according to data from the Euromonitor, and the sector in Brazil and the Middle East presents an expected compound annual growth rate (CAGR) of 9%. In the Middle East beauty market, the fragrance sector is worth an estimated USD 6 billion, the largest and fastest growing category of the sector.<\/p>\n
Botic\u00e1rio<\/strong><\/p>\n Botic\u00e1rio is the world\u2019s largest franchising network of the cosmetics sector, and Brazil\u2019s largest franchising network of any sector, according to the Brazilian Franchise Association (ABF). It\u2019s also the second largest Brazilian cosmetics company (the leading company is Natura), with a market share of 10.8% in Brazil and 20% in Latin America.<\/p>\n Currently, the brand has over 4,000 stores throughout Brazil, Portugal, Bolivia, Colombia, Costa Rica, Paraguay, Venezuela and Japan, plus an e-commerce business in the US. Botic\u00e1rio\u2019s product portfolio includes fragrances, cosmetics, make up, body and hair care.<\/p>\n Millennial<\/strong><\/p>\n Millennial Capital Ltd was founded in 2016 by Andreea Danila and is among the fastest-growing consulting and investment management companies in the Middle East, becoming one of the first specialized investors in retail, consumer and wellness, with an integrated investment, management and operations staff.<\/p>\n Translated by S\u00e9rgio Kakitani <\/strong><\/p>\n