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 to invest up to $50 billion in Canada's AI and energy sectors
Trump signs order to remove tariffs from Brazilian food products
G42 receives US approval for advanced AI chip exports
UAE's CEPA talks with Japan and EU enter advanced stage
Project to convert waste to sustainable aviation fuel set for Abu Dhabi launch
