Following on from the success of its first store which was opened in the City Centre Mirdif last September, O Boticário has opened its second UAE retail outlet at the Dubai Mall.
Speaking about the new opening, O Boticário vice president of business and franchise Andre Farber said: “We have O Boticário stores in 15 countries. Now, we take advantage of the great receptivity of the Middle East to bet on another store of the brand. It is an incredible opportunity to further expand our performance, continue to share the unique creative alchemy and conquer different nationalities.” According to Farber, the brand’s interest in the UAE came from the region’s focus on fragrance and perfumery.
“O Boticário brand brings to the Gulf region a unique retail concept focused on differentiated customer experience and fundamentally high quality, natural ingredient-based products, and we are delighted to expand our partnership with the brand to support the acceleration of the regional development plan in UAE and Saudi Arabia,” said Millennial Capital founder Andreea Danila. Since 2017, the Brazil-based cosmetics, fragrances and skin care company agreed to license its exclusive brand rights and partner with Millennial Capital Ltd - a Dubai based emerging retail, consumer, wellness and investment management firm – to facilitate expansion in the Gulf region.
Earlier this year, Millennial Capital entered a joint venture with Saudi Arabia based Almalki Group to introduce and develop a national development plan for Saudi Arabia which aims to position O Boticário as a leading brand in the Kingdom.
The brand, which is eco-friendly and cruelty-free, is also known for its experiential retail. The new store features the LED screens which help to inform consumers about the products.
Founded in 1977, O Boticário is the largest cosmetic franchise in the world with a 6% market share in Latin America and an estimated US $4 billion in revenue. It currently employs more than 30,000 people, producing 300 million units.