Dubai-Based Huda Beauty Sells Ownership Stake In KAYALI
The deal also sees Huda Beauty redeem the ownership stake San Francisco-headquartered private equity firm TSG Consumer has held in it since 2017, which makes the beauty brand now fully back under founder Huda Kattan’s ownership.
Dubai-based Huda Beauty – billed as one of the world's fastest-growing beauty brands – is selling its ownership stake in KAYALI, the fragrance brand that it launched in 2018.
The separation from Huda Beauty – which is led by founder and CEO Huda Kattan – will see KAYALI – which Huda co-founded with her sister, Mona – now jointly owned by Mona as well as New York-headquartered global growth equity firm General Atlantic. Mona, who has been the face of KAYALI as “a disruptive force in the fragrance market,” will lead it as CEO.
At the same time, the deal also sees Huda Beauty redeem the ownership stake San Francisco-headquartered private equity firm TSG Consumer has held in it since 2017, which makes the beauty brand now fully back under Huda’s ownership.
In a statement, Mona said, “This is an incredibly exciting moment for KAYALI. From day one, my mission has been to create a fragrance brand that inspires confidence, creativity, and self-expression. As we transition into an independent company, our partnership with General Atlantic will unlock new opportunities, expand our global presence, and continue disrupting the fragrance industry with bold innovation.”
Huda added, “This is such a pivotal moment for KAYALI, and we are very excited for the next chapter of Mona and KAYALI’s journey. It’s been such an amazing experience working so closely with Mona over the years – I have loved every minute of it, and I’m also so excited to see what the future holds as KAYALI continues to grow. I’m so unbelievably proud of Mona’s success and I’ll always be cheering her on!”
Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic, added, “Fragrance is one of the fastest growing segments in the beauty industry, and KAYALI has redefined the sector through its imagination, authenticity, and emotional connection to consumers around the world. Mona has built something truly special – a brand that resonates across generations and cultures, enabling personalization and attracting both fragrance enthusiasts and newcomers to the category alike. We see immense opportunity for KAYALI to continue its growth journey as the brand expands its global community, unveils new products, and continues to push the boundaries of scent storytelling. We couldn’t be more excited to partner with Mona and her team on this next chapter as they bring these ambitions to life.”
Pictured on image: Huda and Mona Kattan. Image via hbinvestments.com.
