Fragrance brand Kayali, which is based in Dubai and part of makeup artist Huda Kattan’s global empire, is reportedly up for sale as Huda Beauty is said to be mulling over the sale of its entire fragrance division.
According to the news site Bloomberg, the cosmetics firm is hiring Goldman Sachs to advise on a potential sale.
The process is said to be in the early stages, but the parent company, Huda Beauty, has been valued at over $1bn in the past, so it is likely to be a lucrative deal.
This year there have been a number of big changes at Huda Beauty. In February, the business closed its colour-cosmetics/skin care hybrid brand Glowish. It also reduced the number of SKUs in its overall portfolio, then in July, it rebranded with a new logo.
According to Bloomberg’s source, the sale of Kayali would enable Kattan to buy out minority shareholders TSG Consumer Partners – a US private equity firm that has previously bought a stake in Huda Beauty.
So far, the company has declined to comment.
Capitalising on the gourmand scents trend
Kayali was set up by Huda and her sister Mona in 2018 to help people personalise their scents and find a fragrance they truly loved.
It has been a leader in the ever-growing cosmetics market in the Middle East and has rapidly accumulated a cult following globally.
The brand appeals to Gen Z consumer’s love of foodie fragrances and has been visionary with its outside-of-the-box marketing and retail efforts, which have helped to propel it to become a viral success.
Last year, it teamed up with Jumeirah Mina A’Salam’s Paris-inspired pastry boutique, Margaux, to create a special luxury scent range based around delicious desserts. Then in March 2024, it partnered with delivery service Deliveroo to instantly bike its much-loved scents to eager consumers around the UAE.
