Kayali Bought by Co-Founder and by General Atlantic
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Dubai-based Huda Beauty's popular perfume brand Kayali has been bought by its co-founder Mona Kattan and the private equity firm General Atlantic.
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Kayali was founded by Huda and Mona Kattan under the umbrella of Huda Beauty in 2018. The perfume brand has gained global recognition for its take on modern perfumery and has 1.2 million followers on Instagram.
This move has allowed the beauty company's owners to buy back the stake held by TSG Consumer Partners since 2017, according to the statement released by all three companies on Monday, Feb. 17.
The statement read, "Huda Beauty is making history as one of the few established beauty brands to return to full founder ownership."
Mona Kattan will own Kayali with General Atlantic and remain the CEO while the perfume business will operate as an independent company, according to the statement.
The value of the deal, which is subject to regulatory approval, was not revealed in the statement.
This article was previously published on UAE Moments. To see the original article, click here