Abu Dhabi corporate heavyweight IHC strikes a merger in the beauty business with Tips & Toes owner
IHC creates the 'Omorfia Group' to oversee its expanded interests in beauty category
Dubai: There is a new alliance in the UAE’s beauty industry – and IHC has a role in it. The Abu Dhabi headquartered holding company – known more for its interests in real estate and hospitality – has aligned with the Ben Suhail Group, which owns the UAE’s beauty and spa brand Tips & Toes.
This will be done through the IHC subsidiary Multiply Group, which owns brands such as Bedashing. The merger creates the ‘Omorfia Group’, with 51 per cent held by MG Wellness Holding, a subsidiary of Multiply Group, and 49 per cent with another shareholder.
Multiple beauty brands, salons
Omorfia will own and control consumer and B2B brands, including Tips & Toes, Bedashing, Jazz Lounge Spa and Ben Suhail Distribution. The strategic partnership will see all the existing salons and spas retain their individual brand identity and continue operations and services as usual.
“The merger of business operations allows both brands to streamline their processes and accelerate growth in the beauty and grooming sector, with the group equally focused on growing its stronghold in the high-end beauty product distribution market within the region,” said Syed Basar Shueb, CEO and Managing Director of IHC. (Shueb is also a board member at IHC.)
“Through this transaction, IHC will be able to grow and create synergies between some of the UAE’s most well-known beauty brands, while retaining the locations, offerings and exceptional quality of service that have made them so popular.”
Tips & Toes operates 35 branches in six cities of the UAE and Saudi Arabia, while Bedashing has 21 branches in the UAE.
Jazz Lounge Spa is conceived as the 'gentleman’s ultimate destination' for grooming and rejuvenation, and will launch its 10th branch regionally by the end of the year.
Ben Suhail Distribution is a beauty distribution company that focuses on supplying niche nail, skincare, and haircare brands through its subsidiary Creative Beauty Source.