DUBAI, UAE, April 4, 2022 /PRNewswire/ — 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.
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.
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.
About Global Emerging Markets (GEM)
Global Emerging Markets (“GEM”) is a $3.4 billion alternative investment group with operations in New York, Paris and Bahamas. GEM manages a diverse set of investment vehicles and has completed over 500 transactions in 70 countries. GEM’s investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Its family of funds and investment vehicles provide GEM and its partners with exposure to Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments. GEM’s funds include the CITIC-GEM Fund (matured in December 2015), Kinderhook Industries (GP and LP non-voting stakes), GEM Global Yield LLC SCS, GEM India and VC Bank/GEM Mena Fund (GEM exited both its GP and LP stakes in these funds in 2015 and 2010, respectively). For more information: http://www.gemny.com
About Millennial Brands
Millennial Brands is an emerging consumer specialist firm focusing on building and scaling the greatest digital and social brands operating in the Middle East. The firm, headquartered in Dubai, was established in 2018 with a mission to invest, partner and develop brands targeting the millennial consumer and currently operates various brands across various channels including e-commerce, direct sales, branded stores and distribution centers. For more information: https://millennialbrands.ae/
Vanessa Liwanag, Media and Public Relations
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