Regional sales of perfume and cosmetics boom
The perfume and cosmetics industry is in for boom times as Middle East duty-free sales reached US$ 197.9 million in 2003 and regional airports reported sales increases for the first nine months of 2004.
Perfumes sales are up 41% and cosmetics 70% in Dubai, 72% and 114% in Qatar while combined figures for Bahrain show an increase of 48% (number one category at Bahrain Duty Free), Kuwait 28%, Abu Dhabi 19.27% and Oman 13.9%.
Overall, regional duty-free sales are projected to post an annual average growth of 10.3%, compared to 4.6% globally, by 2010, according to a Generation Databank report.
The growing duty-free, travel retail and luxury goods sectors is attracting more leading international brands which see the Middle East as a key growth market.
“Traditionally the Middle East duty-frees have been strong in the confectionery, tobacco, perfume and cosmetics sectors which have driven rising sales,” said Justin Boutros, Managing Director, Channels Exhibitions, organisers of Middle East Exclusive.
“The rapid expansion of almost all airports and duty-free outlets, new carriers and the tremendous growth of the retail sector in the region are all contributing to making the region a magnet for manufacturers of luxury goods.”
International perfume and cosmetic houses are launching new products at Middle East Exclusive, the region’s only exhibition for the duty-free, luxury goods and travel retail industry, which will be held at Dubai’s World Trade Centre from November 29 to December 1.
Bogal Parfums Distribution Limited, a French company, is planning to launch two products under the Lobogal brand name – Lobogal Limited Edition and Lobogal Gold Limited Edition – at the show. (menareport.com)