Millennial Brands raises $35 million growth round

Millennial Brands is an emerging player in consumer marketing, specializing in developing and launching the next generation direct-to-consumer brands. It has received a $35 million capital commitment by New York’s Global Emerging Markets Group. Additional participation came from Al Attiyah Group and Dash Ventures, Ishango Consulting and Rami Al Ali, as well as other regional investors.

Millennial Brands manages a variety of brands in consumer and personal care categories including body care and men grooming. They also handle baby care and fragrances. The company has thousands of customers and generates multi-million dollars in turnover. It is managed by 100 employees with deep expertise and knowledge in the strategic management of diverse brands.

“Millennial Brands is proud to receive the substantial financial support from international and local investors in this new age of consumer and retail, where expertise and talent are preferred over distribution-based business models. As a female-founded and led firm, we are delighted that the mindset is changing, as such global brands and sophisticated investors intersect with our belief and ability to execute on an emerging yet transformational business model with the goal to create a  scarce and landmark brand in the region” said Amira Ali, General Manager on behalf of Millennial Brands.

Euromonitor estimates that MENA’s beauty and personal-care sector is 2nd in the world after Latin America. The region has 108 million young people between the ages of 18 and 25 who are digitally savvy and socially connected. The MENA ecommerce channel in the beauty and personal-care category will see a 35% increase in CAGR by 2026.

The company established a proven venture creation expertise in terms of launching emerging brands internationally having previously developed and scaled a brownfield 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.

Millennial Brands aims to transform the Middle East’s retail and consumer sector with its own brands and consumer technology, as well as growing existing brands.

Get latest news from African Startup ecosystem

Latest stories

You might also like...