Dubai-based beauty brand Huda Beauty, co-founded in 2013 by sisters Huda, Mona and Alya Kattan, is selling its ownership in fragrance brand Kayali to its co-founder Mona Kattan and growth equity firm General Atlantic.
Kayali was established in 2018 by Huda and Mona Kattan as the fragrance side of their successful beauty business. Since then, the brand as gain strong recognition in Dubai the Middle East.
Kayali will now operate as an independent company, with General Atlantic providing the resources and expertise to accelerate the brand’s development. Mona Kattan will continue her role as Kayali’s CEO.
Additionally, Huda Beauty will fully redeem the ownership interest that TSG Consumer has held in the business since 2017. This move marks the company’s return to full founder ownership.
“Fragrance is one of the fastest growing segments in the beauty industry, and Kayali has redefined the sector through its imagination, authenticity, and emotional connection to consumers around the world. Mona has built something truly special – a brand that resonates across generations and cultures, enabling personalization and attracting both fragrance enthusiasts and newcomers to the category alike. We see immense opportunity for Kayali to continue its growth journey as the brand expands its global community, unveils new products, and continues to push the boundaries of scent storytelling,” commented Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic.
Financial details of the transaction were not disclosed.
