The agreement provides a quantum leap in the e-commerce sector in the region
Anas Al Madani: “The UAE is the center of global innovation and investment
Hussain Al-Mannai
Dubai, United Arab Emirates – March 6, 2024: Index Trading and Investment (Index) signed a strategic partnership with the Global Trade Development Agency (GTDA) in South Korea during the Dubai World Dermatology and Laser Conference and Exhibition “Dubai Derma” at the Dubai World Trade Centre.
The agreement was signed by Eng. Anas Al Madani, Vice Chairman and CEO of Index Holding, and Mr. Joe Taek Yoon, President of the Global Trade Development Agency.
This partnership represents a significant step towards reshaping the skincare industry in Dubai and the Middle East and North Africa (MENA) region. Its goal is to introduce innovative and high-quality beauty and skincare products from South Korea to diverse markets. The collaboration leverages Index Trading’s regional expertise and GTDA’s exceptional capabilities to provide outstanding skincare solutions.
Addressing the increasing demand for online shopping in Dubai, where cosmetic products lead fast delivery sales, this partnership is poised to meet the needs of customers seeking fast delivery of natural and sustainable goods. With the continuous expansion of the global e-commerce market, especially in skincare and health sectors, local brands aim to reach their target audience. The collaboration between Index Trading and GTDA is expected to bring about a qualitative shift in the e-commerce landscape in the region.
Products launched under this partnership from South Korea adhere to stringent sustainability standards, showcasing a commitment to providing organic products aligned with sustainability principles. Index Trading and GTDA aim to introduce a new brand concept featuring skincare brands from around the world in the UAE for Business-to-Consumer (B2C) sales, with plans to include diverse brands from South Korea in the future. Recognizing the significant demand for South Korean skincare brands in the region, the focus extends beyond highlighting skincare beauty to promoting sustainable and eco-friendly brands.
Eng. Anas Al Madani, Vice Chairman and CEO of Index Holding, stated, “This collaboration is a turning point in bringing cultures closer and offering high-quality skincare options to consumers. By joining forces with the Global Trade Development Agency (GTDA) in South Korea, Index Trading seeks to elevate the skincare standards, ushering in a new era of beauty and health innovation that transcends boundaries and celebrates the diversity of skincare solutions available to consumers. Our commitment at Index Holding is always to enhance a dynamic environment that welcomes and supports foreign companies, ensuring the UAE remains a global hub for innovation and investment.”
Reports indicate that the cosmetic and skincare export sectors are among the most prosperous business sectors in South Korea, the third-largest exporter of cosmetics globally. The value of the skincare market in South Korea is expected to reach $11.4 billion by 2026, according to data and statistics.
Eng. Anas Al Madani added, “Our vision is to establish the first online store that helps thousands of brands expand into the region and provide fast delivery services. Therefore, we are delighted to announce our partnership with a brand specializing in natural and sustainable cosmetics. This means residents of the United Arab Emirates will have access to unique and premium brands from around the world. We aim to revolutionize the skincare industry in Dubai, the Middle East, North Africa, and beyond. Our partnership reflects our shared commitment to providing customers with high-quality, innovative, and sustainable skincare solutions that constantly meet the evolving needs and choices of customers. Our customers will soon have better access to our products through the ‘Fall in Beauty’ stores, which will soon be launched in various regions within and outside the United Arab Emirates.”
It is worth noting the continued rise in consumer demand for ethically produced cosmetic products, reaching astonishing levels in 2024.
