Al Tayer Group, a leading diversified business entity in the Middle East signed a franchise agreement with Able C&C Co., Ltd., a Korea based cosmetics company which has the brand ‘MISSHA’. With the UAE planned as the first market that will have a MISSHA store by the last quarter of 2006, the Al Tayer Group plans to cover a substantial part of the GCC with 14 stores operational by end of 2007.
A new entrant to the Middle East, MISSHA enjoys strong following among its customer base across the world. MISSHA cosmetics will be retailed through stand alone stores, bearing the signature red and white MISSHA branding. Al Tayer Group further reinforces its market leadership in the perfumes, cosmetics and skincare segment with the acquisition of the MISSHA franchise for the GCC countries.
“With Al Tayer Group’s strong presence in the premium segment of the perfumes & cosmetics market with Areej, the UAE’s second largest perfumes & cosmetics retail chain, we are confident of equal success with MISSHA. With the region experiencing exponential growth, new segments of the market are emerging. We are addressing that by adding to the consumer choice with a brand like MISSHA which is a dynamic, vibrant and affordable beauty brand for the youth,” said Khalid Al Tayer, Group General Manager – Business Development, Al Tayer Group.
MISSHA as a brand, distinguishes itself by maintaining direct contact with its customers. Each customer is able to test the product lines in the stores and share their opinion with a host of others on the web, further enhancing continued consciousness about maintaining high quality as well as product diversity. MISSHA offers an extensive portfolio of over 600 products ranging from skincare, body care, makeup, fragrance and hair care lines.
“We are excited about MISSHA’s introduction to the Middle East market later this year. With the Al Tayer Group’s expertise in building successful retail outlets in the Middle East and as well as their experience in the perfumes and cosmetics industry, we are confident of MISSHA becoming the new favorite in its category,” said Yang Soon Ho, CEO & President of Able C&C Co., Ltd.
MISSHA cosmetics are also put through extensive allergy testing. It relies heavily on consumer feedback for product development as well as expansion of the range and is in fact, a company that is strictly against animal testing for product development. MISSHA’s ideology also includes being a socially responsible and environmentally conscious company.
MISSHA, originally launched on the internet in year 2000 achieved sales of USD 2.7 million within two years of its launch, growing to sales of USD 12.1 million by 2005. MISSHA has distinguished itself in every city that it launched in, with consumers responding to its affordable price points and high quality products. MISSHA opened its 100th outlet in Korea in early 2004, doubling that to the 200th store by end of the year, and now has over 300 stores in Korea.
Having opened its first overseas store in Sydney in 2004, international presence includes over 150 stores in Singapore, Hong Kong, China, Taiwan, Malta, Mexico, Japan. MISSHA also enjoys great equity in the USA where it opened its first store on the prestigious 5th Avenue in New York with an expansion plan of approximately 1000 stores in the country. The latest one to open in the US is on 7th Avenue, NY. MISSHA will continue to evolve, newly open in Scandinavia, France, South Africa and over 100 stores in existing countries.
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