Dubai-based beauty moguls Huda and Mona Kattan have confirmed that brands Huda Beauty and Kayali are to operate separately, as private equity firm General Atlantic comes onboard to take ownership of the fragrance brand.
The firm will take control of fragrance firm Kayali, alongside Mona, which previously operated as part of Huda Beauty, as it becomes a standalone brand for the first time, the sisters announced in an emotional Instagram video.
The sale of Kayali to General Atlantic comes after two years of negotiations.
In the post, the sisters tearfully recall how Huda Beauty began in 2010 thanks to a $6,000 loan AED (22,000) from their sister, Alia, which led to them building a billion-dollar beauty company.
The separation of Kayali from Huda Beauty will allow the brand to flourish and grow independently with its own team of partners, the sisters explain in the clip, which has been liked by over 120,000 people.
UAE economy expands 6.2%, GDP reaches AED 1.9 trillion
UAE highlights trade, logistics cooperation at Eurasia forum
UAE explores Caribbean trade partnership at regional summit
Ferrari aims to prove doubters wrong after divisive EV debut
IndiGo, Air India cut June-July domestic flights amid high jet fuel prices, sources say
