KAYALI Secures Growth Path with General Atlantic Support
Deal News | Feb 17, 2025 | General Atlantic
In a significant development within the beauty and fragrance industry, Huda Beauty has announced plans to sell its ownership in KAYALI, the fragrance brand founded by Huda and Mona Kattan in 2018. The move will see KAYALI, known for its innovative approach to perfumery, emerge as an independent company under the joint ownership of Mona Kattan and General Atlantic, a global growth equity firm. KAYALI, which has swiftly become a prominent name in the fragrance category, will gain new resources and strategic support as part of this partnership, aimed at accelerating its growth and international reach. Mona Kattan will continue to lead the brand as CEO, focusing on expanding the brand's influence while preserving its unique identity and connection with consumers. The transition also marks Huda Beauty's redemption of TSG Consumer's interest, thereby restoring it to full founder ownership, a testament to the brand's commitment to direct growth paths. Financial and legal advisory for the transaction was provided by distinguished firms including Goldman Sachs International and Gibson Dunn.
Sectors
- Beauty and Personal Care
- Private Equity
Geography
- United Arab Emirates – UAE is significant as a center for the founding and development of the KAYALI and Huda Beauty brands, both of which are associated with Dubai's burgeoning beauty market.
- United States – The involvement of American firms like General Atlantic and TSG Consumer Partners highlights the cross-continental financial engagements and the U.S.'s role in the investment landscape.
Industry
- Beauty and Personal Care – The article pertains to the beauty and personal care industry with a focus on fragrance products and the evolving strategies of influential brands like KAYALI and Huda Beauty.
- Private Equity – General Atlantic's involvement in backing KAYALI illustrates the active role of private equity in supporting and scaling businesses within consumer markets.
Financials
- $100 billion – General Atlantic manages approximately $100 billion in assets under management as of October 1, 2024.
- $14 billion – TSG Consumer Partners managing assets under management.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| KAYALI | Target Company | Company | A successful fragrance brand established by Mona Kattan, known for its unique and innovative offerings in the beauty industry. |
| Huda Beauty | Selling Company | Company | Founded by Huda Kattan, an influential beauty brand responsible for launching KAYALI and recognized globally for its market impact. |
| General Atlantic | Bidding Company | Company | A prominent global growth equity firm partnering with KAYALI to facilitate its next growth phase. |
| Mona Kattan | CEO of KAYALI | Person | Co-founder of KAYALI and Huda Beauty, leading the newly independent fragrance brand into its future endeavors. |
| Huda Kattan | CEO of Huda Beauty | Person | Prominent entrepreneur and founder of Huda Beauty, leading the brand to regain full founder ownership. |
| Goldman Sachs International | Financial Advisor to Huda Beauty | Company | Provided financial advisory services to Huda Beauty during the transaction. |
| Gibson Dunn | Legal Advisor to Huda Beauty | Company | Served as the legal advisor for Huda Beauty in the transaction process. |
| TSG Consumer Partners | Previous Stakeholder | Company | The private equity firm holding an interest in Huda Beauty until the transition to full founder ownership. |