Dubai-based Huda Beauty is considering selling its fragrance division, according to a report
Dubai-based cosmetics brand Huda Beauty is reportedly considering selling some or all of its stake in its fragrance line, Kayali.
Possible sale
The company has hired Goldman Sachs as an advisor and may soon start talks about a potential sale, according to a Bloomberg report on Wednesday, which cited unnamed sources.
The money from selling Kayali could help the Kattan sisters—Huda, Mona, and Alya—buy back their shares from TSG Consumer Partners, which bought a small part of Huda Beauty in 2017.
According to a Bloomberg report, selling the business would help the fragrance and cosmetics company become more independent.
The report also mentioned that talks are still in the early stages, and Huda Beauty might change its mind about selling its perfume division.
Huda Beauty has not commented on the report, and a spokesperson from Goldman Sachs also declined to comment when asked by Bloomberg.
Fragrance Business
Since it started in 2018, Kayali has released nearly 24 perfumes, which are sold by big stores like Sephora USA, Walgreens Boots Alliance, and ASOS around the world.
Big Numbers
Huda Beauty has an impressive 54.2 million followers on Instagram, which is more than its competitors, Kylie Cosmetics with 24.9 million followers and Rare Beauty with 7.6 million followers.
Ranking
Huda Kattan, the founder of Huda Beauty, is ranked 22nd on the Forbes Middle East 100 Most Powerful Businesswomen 2024 list, and Mona Kattan, the founder of Kayali, is ranked 61st.
Published: 10th October 2024
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