Millennial Brands has received a $35 million capital commitment from New York-based Global Emerging Markets (GEM) Group. Millennial Brands currently manages 12 brands across consumer and personal care categories, including body care, men grooming, hair care, baby care and fragrances.
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Millennial Brands aims to generate hyper-growth across online and social channels. It also seeks to improve market share by deploying a portfolio construction strategy, targeting partnerships with direct-to-consumer brands, as well as the launch of homegrown brands which cater to the on-demand needs of the millennial consumer in the Middle East.
Andreea Danila, on behalf of Millennial Brands, said, "We are truly delighted with the transaction with GEM, an institutional investor with significant experience and track record in investing in emerging markets. The group and its partners bring substantial expertise in creating value in terms of investing and working with emerging ventures across life-cycles, up to IPO stage."