Marhaba folks! 🌟

Today we will discuss,

• 💄 Huda Beauty Considers Sale of Fragrance Division Kayali 💐

• 🤝 Dubai Department of Economy and Tourism Partners with Noon to Boost SME Growth 🚀

• 📰 Paul Marshall Acquires The Spectator for GBP 100 Million from Abu Dhabi-Backed RedBird IMI 💷

Let’s dive in!

💄 Huda Beauty Considers Sale of Fragrance Division Kayali 💐

📰 What is it about?

• Dubai-based cosmetics firm Huda Beauty is exploring the sale of its Kayali fragrance division.

• Goldman Sachs has been hired as an adviser for the potential sale.

• Proceeds could allow Huda Beauty’s founders to buy out TSG Consumer Partners' stake, which was acquired in 2017.

💡 Why it matters?

• A sale could help Huda Beauty and Kayali to operate independently and pursue distinct growth strategies.

• Reflects the increasing trend of merger and acquisition activity in the beauty sector, with deals up by 37.5% this year.

• Highlights Huda Beauty's strong market position, leveraging its vast social media influence to attract potential buyers.

🔜 What’s next?

• Early-stage deliberations are ongoing, with plans for the sale still subject to change.

• If the sale proceeds, Huda Beauty could see a realignment of ownership and a new strategic direction.

• The outcome could influence further M&A activity in the beauty and fragrance sectors globally.

📈 Markets

🤝 Dubai Department of Economy and Tourism Partners with Noon to Boost SME Growth 🚀

📰 What is it about?

• The Dubai Department of Economy and Tourism (DET) is partnering with e-commerce platform noon to support the growth of SMEs.

• The program is part of the Dubai Traders initiative under the D33 economic agenda.

• It aims to provide Dubai-based SMEs with digital tools and channels to help them expand locally and globally.

💡 Why it matters?

• Empowers local businesses by providing them with digital resources and a larger platform to reach customers.

• Supports economic growth by enhancing the visibility and success of Emirati sellers through noon’s Mahali program.

• Aligns with Dubai's D33 economic agenda to promote innovation and competitiveness in the SME sector.

🔜 What’s next?

• SMEs will receive an onboarding incentive package to join and benefit from noon's platform.

• Additional support will be provided for Emirati sellers to enhance their digital presence and growth.

• The partnership will continue to explore new opportunities to expand the reach and success of SMEs in Dubai and beyond.

Quote of the day
“The first responsibility of a leader is to define reality. The last is to say thank you. In between, the leader is a servant.” – Max de Pree.

📰 Paul Marshall Acquires The Spectator for GBP 100 Million from Abu Dhabi-Backed RedBird IMI 💷

📰 What is it about?

• Paul Marshall, a billionaire and hedge fund founder, has purchased The Spectator magazine for GBP 100 millionfrom RedBird IMI.

• The deal was confirmed by Old Queen Street Ventures, Marshall's media company.

• The acquisition is part of Marshall's plan to expand The Spectator's reach, particularly in North America.

💡 Why it matters?

• Reflects Marshall's commitment to invest in and grow The Spectator, which he believes has been underfunded.

• Marks a strategic shift for RedBird IMI, aiming to recoup investments after an unsuccessful takeover attempt.

• Highlights strong market interest in UK media assets, with several potential buyers also eyeing the Telegraph.

🔜 What’s next?

• RedBird IMI will continue with the sale of the Telegraph, with multiple buyers in the running.

• Marshall plans to expand The Spectator’s presence across the Anglosphere, particularly targeting North American markets.

• Market dynamics may shift as new ownership could influence the direction of The Spectator and other media assets.

In other news…

1. Dubai-based entrepreneur Umar Kamani makes dramatic return to prettylittlething.

2. Atlantis’ Tom J. Roelens joins Wynn Al Marjan Island as COO.

3. Saudi proptech startup Hissatech closes SAR2.5 million pre-seed round.

4. Dubai princess Her Highness Sheikha Mahra Al Maktoum launches ‘Divorce’ perfume.

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