Brazilian fragrance brand O Boticario, along with its Dubai-based partner Millennial Capital, signed a memorandum of understanding (MoU) with Saudi Arabia's Al Malki Group to debut in the Kingdom.
The agreement aims at key commercial objectives towards the implementation of a national development plan for introducing O Boticario brand in Saudi Arabia, Khaleej Times quoted a statement from the company.
The stakeholders will work together for the development plan that includes a feasibility study for 2019 followed by a roll-out phase which is expected to position O Boticario among the top beauty brands in terms of market share, brand equity and number of branded retail locations.
The MoU also proposes an operating model that suggests an exclusive omnichannel approach including sales in branded outlets in key locations, online sales and departmental stores.
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