Brazilian beauty brand O Boticario has signed a licensing agreement with UAE-based Millennial Capital. The deal, which spans five years, will allow Millennial to open and operate a series of O Boticario stores across the GCC region.
The first store is due to open in the UAE in September 2018 with a second location is planned before the year’s close. The partners have agreed a development plan which allows for a minimum of five stores across the UAE as well as partnerships with e-commerce portals and concessions within department stores and drugstores.
Expansion into Saudi Arabia is envisaged by the final quarter of next year.
”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,” said Andrea Gutierrez, Grupo Boticario.