Millennial Brands, an emerging consumer player specializing in launching and developing the next generation of direct-to-consumer and digital brands, operating in the Middle East, has secured USD 35 million capital commitment from New York based Global Emerging Markets Group (“GEM”).
Millennial Brands currently manages 12 brands across consumer and personal care categories, including body care, men grooming, hair care, baby care, and fragrances. The company serves thousands of consumers and generates a multi-million dollar turnover; it is managed by a team of 100 employees, with deep expertise in the strategic management and operations of a diversified portfolio of brands.
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Millennial Brands aims to generate hyper-growth across online and social channels as well as improve market share, by deploying a portfolio construction strategy, targeting partnerships with direct-to-consumer brands as well as the launch of homegrown brands which cater to the on-demand needs of the millennial consumer in the Middle East. Beauty and personal care sector in MENA, estimated at USD 21bn (2021) according to Euromonitor, is the 2nd fastest growing market world-wide after Latin America. The region is home to 108 million young consumers (ages 18-25) who are socially connected and digitally savvy. The MENA e-commerce channel for the beauty and personal care category is expected to report a 35% CAGR by 2026.
“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” – said Andreea Danila, on behalf of Millennial Brands.
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The company established a proven venture creation expertise in terms of launching emerging brands internationally having previously developed and scaled a brown field project, under a licensing model with O Boticário, which they successfully introduced in UAE and Saudi Arabia. O Boticário is the second largest Brazilian cosmetic company with a 6% market share in Latin America, according to Wikipedia.
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.