UAE skincare market estimated to reach US$ 219 million in 2018

Lifeline Drug Store signs exclusive distribution agreement with Skincode AG

: Thursday, May 15 - 2014 @ 16:31

The UAE skincare market is expected to reach an estimated Dhs 800 million (US$ 219 million) in 2018, according to Lifeline Drug Store (LDS), UAE’s leading distribution company which has just signed an exclusive marketing and distribution agreement with Skincode AG, a Swiss-based beauty products company specialized in the cosmetics industry, to represent them in the UAE market.

Comparatively speaking, the US skincare industry is expected to experience a moderate growth and reach US$12.2 billion by 2018, according to Research and Markets most recent study published 2 months ago.

The UAE skincare industry is just 1.8 percent that of the US, due to a higher population of the US compared to the UAE.

The signing ceremony of Skincode was held at Address hotel, down town Dubai and attended by Dr. Mahmood Al Bastaki, CEO of Dubai trade, Dr. Shiras. RP Director of LDS, Prince Nicals Massalsky CEO of Skincode AG, Switzerland and representatives of major retailers from UAE pharmacy chains. Engineer Al Bastaki explained the success stories of Dubai Trade and the strong fundamentals prevailing in Dubai for trade and logistics.

The increasingly awareness of UAE consumer is displaying strong preference for natural skincare products and this is boosting the skincare industry in the country. These consumers’ value quality products and most of them are skincare savvy, according to officials of both companies.

MA Abu baker, General Manger of LDS said that there is huge demand in the UAE for multifunctional skincare products and consumers don’t compromise on quality. “Most UAE Consumers have high incomes and prefer premium products produced by prestigious skincare manufacturers. That is why we are excited about this distribution agreement with Skincode AG,” he said.

Abu Baker added: “To do a comparison between the growth of the skincare industry in the UAE and the US, here the consumers are more inclined toward natural and organic products and ready to pay a premium for these products while in the US, there is a huge demand for anti-aging products from baby boomers. Therefore, the skincare industry in the UAE is fueled by higher purchasing power, while in the US the demographics are such that there is stronger demand for anti-aging products.”

Dr. Shiras. RP, Director at LDS said “We are partnering with Skincode at a time LDS has emerged as a well-established distribution company with active presence in MENA and Asian countries. “The UAE is getting latest skincare techniques that are launched worldwide and this agreement exemplifies how the country is on the top of the global offerings when it comes to skincare solutions and treatments.”

Skincode AG has three results-orientated collections: Skincode Essentials, Skincode Age Lab and Skincode Exclusive.

The marketing manager of Derma-cosmetics at LDS Mrs. Riham Wagdy said “It is a matter of pride for us to add Skincode products to our diversified portfolio at the time when we are one of the leaders in Derma-cosmetics in UAE market.

The UAE lifestyle has contributed to wider use of cosmetic products, especially among those who have oily skin or those who put a great emphasis on looks. Skin products take a major share of this huge expenditure in the UAE.

“The land of Switzerland, recognised for its beautiful landscapes and natural resources, is where Skincode products originate from a model of purity, harmony and balance.” said Prince Nicals Massalsky, owner and CEO of Skincode AG. “With the combination of sophisticated medical and dermatological research, biological ingredients and plant extracts in their purest form, state-of-the-art skincare is within consumers’ reach.”

“We have selected LDS for their reputation in the region and we are confident that Skincode will be a hot favourite among UAE consumers in a very short span of time.” Prince Nicals added.

Skincode AG, a Swiss-based beauty company founded in 1998 by a team of professionals with deep knowledge and extensive experience in the cosmetics industry, reinforces Switzerland`s reputation for state-of-the-art skincare.

LDS’ success is attributed to the strong execution skills, sound know-how and highly motivated teams. The company owns advanced fleet of warehouses that offer easy accessibility to different regions, and operate with the most modern ERP, logistics and supply chain management systems.

Dr. Shiras. RP concluded “International skincare manufacturers recognize that there are excellent opportunities in the skincare industry. They are continuously adopting new strategies to gain market share in the UAE market by maintaining a balance between price and quality driven by continuous research and a development drive.”

For further information, please contact:
Virtue PR & Marketing Communications
P.O Box: 191931
Dubai, United Arab Emirates
Tel: 00971 4 4508835

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Thursday, May 15- 2014 @ 16:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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