Business | Economy
Channel Sponsor
Mideast cosmetics and personal care sales cross Dh7.7b in 2007
The Middle East cosmetics and personal care sector reported sales of Dh7.7 billion in 2007 as the industry grew 12 per cent annually over the past three years, Dubai Airport Free Zone said in a statement on Saturday.
- Staff Report
- Published: 23:51 August 16, 2008
- During the recent months, ten global cosmetic majors have opened their branch offices in Dubai.
- Image Credit: Gulf News Archive
Dubai: The Middle East cosmetics and personal care sector reported sales of Dh7.7 billion in 2007 as the industry grew 12 per cent annually over the past three years, Dubai Airport Free Zone said in a statement on Saturday.
During the recent months, ten global cosmetic majors have opened their branch offices in Dubai. Those who have chosen Dubai Airport Free Zone as a base include Chanel Limited, Clarins Groupe (Middle East), Estee Lauder Middle East, P & G Cosmopolitan Cosmetics, Perfumes Loewe Middle East, Guerlain Middle East, Revlon Middle East, Parfums Givenchy Middle East, Parfums Christian Dior and Elizabeth Arden (Middle East).
"Cosmetics and frag-rance companies are being lured by the tax free and 100 per cent ownership incentives being offered by the Dubai Airport Free Zone. A new trend that we are seeing is that quite a number of these companies are coming and setting up Middle East regional offices in Dubai's Airport Free Zone," said Dr. Mohammad Al Zarouni, director-general of the Dubai Airport Free Zone.
Advantages
Advantages of setting up a regional office at the Dubai Airport Free Zone include the easy access to the state-of-the-art Dubai Cargo Village.
"These factors are proving to be particularly attractive to companies that depend on time-sensitive shipments. We also have a one-stop-shop where investors can get all their documentation for licensing, registration and employee sponsorship done, even online," said Dr. Zarouni.
Estee Lauder's decision to open initially a branch office, and more recently, a Free Zone company, was a "well thought one," said Didier Picard, vice-president and general manager of Estee Lauder Middle East.
"Besides offering a second-to-none infrastructure in Dubai, Dubai Airport Free Zone was the ideal place to grow a team of professionals from all over the world."
Services and facilities at the free zone have grown rapidly over the past years. "The GCC is not only a booming market but also a profitable region. Dubai definitely acts as a trendsetter and influences its neighbours both in consumption and distribution network infrastructure," said Bruno Tissot, general manager of Elizabeth Arden Middle East.
Dubai Airport Free Zone is adding 48,000 square metres of additional space this year while a further 103,000 square metres are planned between 2010 and 2013. "Research indicates that residents of the UAE and GCC countries are increasingly appearance conscious with over 30,000 salons in GCC spurring demand for beauty products" Dr. Zarouni said.
Share this article
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
Credit swaps... a fair trade
Would you swap an unbuilt unit at the Lagoons for an apartment at JBR?
-
In pictures: New BMW Z4
The new model is much more user-friendly and driver focused
-
Lebanon realty robust
Overseas Lebanese fuel real estate surge
