Waldencast expands footprint with Dubai office launch to boost beauty market in Middle East

UAE – Waldencast, an American beauty and wellness brand, has expanded its global footprint with the launch of a new regional office in Dubai, a strategic move aimed at accelerating growth across the Middle East. 

The beauty platform, which houses brands such as Obagi, Milk Makeup, and Whind, is positioning itself to strengthen localized marketing and distribution efforts in the region.

The Dubai hub will serve as Waldencast’s regional headquarters, reinforcing its commitment to global diversity and regional brand-building. 

By establishing a presence in Dubai, Waldencast aims to bridge the gap between international beauty trends and the Middle Eastern market, fostering innovation and accessibility.

The company’s co-founders, Hind Sebti and Michel Brousset, have emphasized their vision of championing inclusive, culturally rooted beauty brands that resonate with consumers worldwide. 

This expansion comes at a time when the Middle East’s beauty industry is experiencing rapid growth, with increasing demand for high-quality skincare and makeup products. 

According to a report published by Statista, in the United Arab Emirates, the market is projected to generate USD 1.31 billion in revenue by 2025, with an annual growth rate of 1.89%. The largest segment within this market is personal care, valued at USD 579.09 million.

Across the Middle East, the beauty industry is valued at over USD 46 billion and is expected to reach USD 60 billion by 2025, according to a report by Euromonitor.

Q4 FY24 financial highlights

Recently, Waldencast reported a strong performance, recording a gross profit of USD 49.4 million for the fourth quarter, which ended December 31, 2024.

The company also reported an adjusted gross profit of USD 52.6 million, accounting for 73.0% of net revenue. 

Net revenue rose 30.8% to USD 72.1 million, with a 29.4% rise in comparable net revenue. 

The growth was driven by Milk Makeup’s expanded distribution, Obagi Medical’s accelerated performance in the Physician Dispense channel, and the continued success of Obagi Medical’s e-commerce platforms.

Net loss improved to USD 22.6 million, down from USD 32.7 million in Q4 2023, attributed to operational growth and reduced non-recurring costs related to the restatement and SEC investigation. 

Adjusted EBITDA surged to USD 11.2 million, doubling from the previous year and accounting for 15.5% of net revenue. 

In Q4 FY24, the net revenue for the Milk Makeup increased to USD 29.9 million, marking a 31.9% increase from USD 22.6 million in Q4 2023.

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