THE WHAT? Middle East-based consumer brand Millennial Brands has secured US$35 million capital commitment from New York-based Global Emerging Markets Group (“GEM”).
THE DETAILS Millennial Brands specializes in launching and developing the next generation of direct-to-consumer and digital brands, and currently manages 12 brands across consumer and personal care categories, including body care, men grooming, hair care, baby care, and fragrances.
The firm announced on its official Linkedin page in January 2022, that it would explore a liquidity event in the next 18 to 24 months, and appointed advisors to collaborate on devising a pre-SPAC growth strategy.
THE WHY? Following the financial injection, Millennial Brands aims to generate hyper-growth across online and social channels as well as improve market share.
It will do this by deploying a portfolio construction strategy, targeting partnerships with direct-to-consumer brands as well as the launch of homegrown brands that cater to millennial consumers in the Middle East.
Andreea Danila, on behalf of Millennial Brands, said, “We are truly delighted with the transaction with GEM, an institutional investor with significant experience and track record in investing in emerging markets. The group and its partners bring substantial expertise in creating value in terms of investing and working with emerging ventures across life-cycles, up to IPO stage.”