Dubai: Millennial Capital, the homegrown Dubai-based venture creation and management firm, is currently in the implementation phase of the roll-out plan for O Boticário in the UAE. The partnership between Millennial Capital and O Boticário was announced in early 2017. Since then, O Boticário UAE has entered four business channels, especially creating a differentiated retail channel, through its differentiated Amphora concept store. Flagship stores have subsequently been opened in key locations, including Dubai Mall, Mirdif City Centre, Deira City Centre, Dubai Hills (under construction) and Dubai Downtown while plans are already in place for 7 more stores in the UAE by end of 2021.
"Millennial Capital is proud to be associated with a high quality and desirable brand such as O Boticário, which brings a differentiated value proposition to the region for our local consumers, focusing on premiumisation in retail, digitalisation of the marketing strategy and a robust omnichannel approach that concentrates on branding and experimentation. Our vision centres on working alongside the brand to develop the local operation and elevate it to a leading position in the beauty sector in the UAE," commented Andreea Danila, Founder of Millennial Capital.
O Boticário, founded in 1977, is the largest fragrance player in Brazil. Globally, it has more than 4,000 stores and besides Brazil, it operates in 15 international countries. To this day, O Boticário’s product lines consist of approximately 1,200 items body care, facial care, makeup, fragrances, deodorants, soaps and shampoos; which are a result of an alchemy of unique and exotic ingredients; such as quinoa grains and lily extracts. The brand does no animal testing and invests 1% of revenues in forest conservation.
According to findings revealed in Millennial Capital’s MENA Beauty Care Report, KSA retains the highest market share, 33.2%, in the MENA’s Beauty Care Sector, which continues to grow at 8.5% per annum. The UAE market stands higher in terms of spending per capita on beauty at USD 239, more than twice the global average of USD 115 per capita. In recent years, new players with the right value proposition to step in and gain market share weighing on the gradually shifting consumer focus to quality and natural ingredients.
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About Millennial Capital
Millennial Capital is an emerging venture capital creation and management firm. The firm’s strength lies in its utilisation of people, passion, creativity and, of course, capital. Steering clear of blindly investing in companies, Millennial Capital looks at the story of a brand and the people behind it, while focusing on the millennial generation as a key demographic. The management team strives to effectively provide capital and operational support to its new ventures, with the aim of creating local market leaders, operating in high profitability sectors such as beauty, personal care, personal accessories, consumer health, retail, and technology. Its typical funding ticket size is between $1 million to USD $5 million, or involves micro-financing.
© Press Release 2019