Brazilian cosmetics, fragrances and skincare company OBoticario has partnered with Millennial Capital to create a development plan for entering the UAE market.

As part of the plan, Millennial Capital will receive brand rights from OBoticario for five years and will open the brand’s stores in the country.

Millennial Capital will open five stores and establish partnerships with e-commerce portals targeting department stores and pharmacies. The first of these stores are expected to open in September this year and the second is planned for the end of 2018.

Millennial Capital founder and managing director Andreea Danila said: “We are delighted to partner with the world largest cosmetics franchise and introduce them in the UAE.

“We see a big potential in the UAE and other GCC markets.”

“We are confident that OBoticario’s international expertise coupled with Millennial Capital’s deep local knowledge and omnichannel operational excellence, will enable the launch in UAE to become a success story to be replicated shortly across other Gulf Corporation Council (GCC) geographies”

Millennial is also planning to expand OBoticario’s footprint in Saudi Arabia by the Q4 2019.

OBoticario currently operates 4,070 stores in Brazil, Portugal, Colombia, Bolivia, Paraguay, Costa Rica, Venezuela and Japan, offering fragrance brands such as Malbec, Floratta and Lily.

OBoticario spokesperson Andrea Gutierrez said: “We see a big potential in the UAE and other GCC markets and we believe our brand will add with a differentiated value proposition for our customers in this part of the world.”