Global beauty giant Coty is set to ramp up its presence in the Middle East following a partnership with UAE based luxury goods distributors, Chalhoub Group and Jashanmal. In collaboration with the distributors, the company is set to create Coty Distribution Emirates LLC, a joint venture established to strengthen Coty's business in the region.
According to Coty, the new company will help it to expand its go-to market capabilities in the UAE and provide consumers in the region with greater access to its brand portfolio.
"The United Arab Emirates has enjoyed steady growth over the past decade and is a key emerging market for Coty and the beauty industry," said Michele Scannavini, CEO of Coty Inc. "Both Chalhoub and Jashanmal have proven to be exceptional partners to Coty in the Middle East and through our new joint venture, we look forward to further growing our business in this important market."
"We are very pleased to extend our long term relationship with Coty, a partnership which has benefitted both of our businesses greatly," added Patrick Chalhoub, CEO of Chalhoub Group. "We are confident that through this joint venture we will reinforce our collaboration while answering to the market and consumer needs in the region."
