Smell occupies a unique position when it comes to the senses. Scents and perfumes can change the feeling and bring back their beloved memories. The perfume comes with a distinctive brand that is widely known in the UAE market, backed by either moderate or heavy fragrances. The Land of Sheikhs has a potential audience in the perfume industry, referred to as "Attar," a diluted type of essential oil extracted from biological extracts.
The heart of the UAE, Dubai, has seen an influx of young boutiques dealing in the same sector, which is attractive to business people interested in setting up a UAE business. This blog is for you if you still have an interest in integrating your perfume business or developing it.
Perfume Business in the UAE
The perfume company is one of the country's most profitable businesses. According to a recent article, one of the world's most expensive perfumes available in Duba holds Dh 4.8 million. The perfume industry was worth US$ 403 million back in 2017, which is projected to hit US$ 685 million by 2023, with a 9 percent CAGR. In recent years, many foreign perfume firms have integrated their presence in the UAE region.
Target Market for Perfume Business in the UAE
When it comes to the target market, it is probable to see both men and women using their perfume selection for personal grooming. Some of the popular perfumes are Amber, Oud, Musk, Exotic flowers, and so on. Unisex fragrances, however, account for the largest category.
The drivers that fuel the UAE region’s perfume industry include growth in social media, e-commerce growth, a rise in disposable income, etc.
Dubai Industrial City- Ground of Perfume Manufacture in the UAE
Dubai Industrial City encompasses them all when it comes to the perfume manufacturing sector. It stood as part of TECOM Investments and was incorporated in 2005 near Jebel Ali, DIC. This free zone comes with many advantages for investors and business owners wishing to set up their business in Dubai. It also provides respective licenses to begin the business activities in a comfortable and trouble-free way.
Perfume Retail Business in the UAE
The United Arab Emirates’ land holds equal rights and opportunities in the perfume sector when it comes to the retail industry. The retail industry is one of the region's increasing sectors. A respective trade license is readily available to large corporations who give them the ownership and legal permission to start the retail business.
How to Establish a Perfume Business in the UAE?
Here are the steps required -
1. Develop an Enterprise Plan
Draft a business strategy for the perfume industry. Decide on the mission statement, priorities, several product deals, desired cash flow, financial outlook, start-up costs, income statement, etc.
2. Invent New Perfumes
Research into perfume recipes or create exclusive blends by buying a few essential oils in exciting aromas. Start mixing scents and testing with few strong enough odors, then start the manufacturing process.
3. Purchase the Bottles
Research from wholesalers on perfume bottles, testers, and samples and the style they sell for each form of the jar. Choose the shape and scale of the bottle reflecting the fragrances of the perfume
4. Establish your Brand
Create the logo representing your company and receive trademarks and product registration from the appropriate authorities as well.
5. Acquire a License:
To start a perfume business in Dubai, an investor must acquire a business license from the Department of Economic Development (DED)
Why Start a Perfume Business in the UAE?
- One of UAE's fastest-growing sectors of the economy
- UAE has a strong network and transport facilities which facilitate business operations
- The UAE holds land both for startups and for existing corporations.
- Presence of different regions such as Mainland, Free Zone, Offshore
- Quick access to a business license
- Quick availability of imports and exports to neighboring countries
In short, when it comes to a perfume company, we may state that the UAE holds a tremendous opportunity. If it's a growing region or an international one, the UAE has both possibilities.
Besides, a target market that offers business investors or entrepreneurs an excellent opportunity to establish their business is quickly found. If you're keen to start your own Dubai perfume venture, it's the perfect time to kick-start your business. It should be understood that while trading the business operations in a foreign land needs to abide by the legal laws.
Outlawing the constitutional laws will put you and your company at tremendous risk. It is recommended to take the support of business advisors to prevent any legal problem that can assist you in the registration process and the legal proceedings. Wondering whom to get in touch with? Don't be afraid. Just below is your Business Guide.
Commitbiz| Your Business Guide
We at Commitbiz take care of our clients' basic needs. Since its formation, we have dealt with numerous clients in various business sectors around the globe. Our company specialists are well-versed in both the incorporation and legal procedures and can assist you in a hassle-free way to complete the phase. To have a word, do contact us-we’d be glad to help.