Mona Kattan to Lead KAYALI as Independent Brand with Backing from General Atlantic
Dubai-based Huda Beauty has announced a strategic deal to sell its popular fragrance brand KAYALI to co-founder Mona Kattan and private equity firm General Atlantic. This transaction enables Huda Beauty’s founders to buy back a stake previously owned by TSG Consumer Partners since 2017, marking a major shift in the company’s ownership structure.
The move positions Huda Beauty as one of the few major beauty brands to return to full founder ownership, reinforcing its commitment to independent business growth.
The Rise of Huda Beauty and KAYALI
Huda Beauty, founded in 2013 by beauty influencer Huda Kattan and her sisters Mona and Alya Kattan, has grown into a global cosmetics powerhouse. The brand is widely known for its high-quality makeup products, luxury eyelashes, and skincare offerings, and has built a massive digital following.
- Instagram Reach: Huda Beauty boasts over 54.2 million followers, far surpassing competitors like Rare Beauty (8 million followers) and Kylie Cosmetics (24.7 million followers).
- Expansion into Fragrance: KAYALI, launched in 2018 by Mona Kattan, quickly became a market leader in luxury fragrances, known for its sophisticated scent layering concept and high-end branding.
With this restructuring, Mona Kattan will take full leadership of KAYALI as CEO, steering it as an independent company backed by General Atlantic, a firm renowned for its investments in high-growth consumer brands.
What This Means for Huda Beauty
This deal allows Huda Beauty to regain full control of its operations and strategic direction. While many beauty brands rely on outside investors for expansion, Huda Beauty is charting a different course, choosing to remain fully founder-owned.
The transaction follows a broader trend in the beauty industry, where founder-led brands are reclaiming their equity stakes to retain creative and business control.
“Huda Beauty is making history as one of the few established beauty brands to return to full founder ownership,” the companies stated in a joint release.
By divesting KAYALI, Huda Beauty can now focus on its core cosmetics and skincare business, while KAYALI gains the freedom to pursue aggressive expansion in the premium fragrance market.
Mona Kattan’s Vision for KAYALI
Mona Kattan has been the driving force behind KAYALI, blending Middle Eastern fragrance traditions with modern luxury branding. With her at the helm, KAYALI has developed a loyal customer base and strong global appeal.
Under the new structure:
✔️ Mona Kattan retains leadership as CEO of KAYALI.
✔️ General Atlantic provides financial backing to fuel expansion.
✔️ KAYALI operates as an independent company, separate from Huda Beauty.
This independence could lead to further innovation in the fragrance category, as KAYALI explores new markets, product lines, and collaborations.
Financial and Legal Advisors
The deal was backed by a team of top financial and legal advisors:
- Goldman Sachs International advised Huda Beauty on the transaction.
- Gibson Dunn served as Huda Beauty’s legal advisor.
- Raymond James provided financial advisory services to General Atlantic.
- Latham & Watkins acted as legal counsel for General Atlantic.
- Skadden, Arps, Slate, Meagher & Flom represented Mona Kattan.
The Broader Beauty Industry Landscape
The beauty industry has seen significant shifts in ownership structures, with both mergers and acquisitions shaping the competitive landscape.
📈 Independent Brands on the Rise: Consumers increasingly favor authentic, founder-led brands over mass-market labels.
💰 Private Equity Investment: Firms like General Atlantic continue to bet on high-growth beauty brands, seeing potential for premium expansion.
🔄 Strategic Divestitures: Companies like Estée Lauder and L’Oréal have restructured portfolios to streamline operations and maximize growth potential.
With KAYALI gaining backing from General Atlantic, the luxury fragrance segment is likely to see new strategic expansions and innovations.
What’s Next for Huda Beauty and KAYALI?
As KAYALI moves into its next phase under independent ownership, the brand is expected to:
✔️ Expand globally, targeting new markets in Europe, Asia, and North America.
✔️ Launch new fragrance collections, leveraging Mona Kattan’s expertise in scent development.
✔️ Enhance digital marketing efforts, utilizing influencer collaborations and social media.
Meanwhile, Huda Beauty will continue to dominate the makeup and skincare space, leveraging its massive online following and reputation for high-performance beauty products.
Key Takeaways for Investors and Industry Watchers
✅ Huda Beauty regains full founder ownership, aligning with a growing trend of independent beauty brands reclaiming control.
✅ Mona Kattan leads KAYALI as an independent company, backed by General Atlantic’s strategic investment.
✅ The deal strengthens both brands, allowing Huda Beauty to focus on cosmetics while KAYALI accelerates growth in premium fragrance.
✅ The beauty industry continues to evolve, with founder-led companies gaining more power in a market that values authenticity and brand storytelling.
Conclusion: A New Chapter for Huda Beauty and KAYALI
This landmark deal reinforces the strength of founder-led beauty brands and their ability to shape the industry on their own terms. With Huda Beauty’s founders reclaiming full ownership and KAYALI embarking on a new journey with General Atlantic, both brands are poised for future success in their respective markets.
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