Boutiqaat Group: Difference between revisions
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Boutiqaat is an eCommerce platform that displays and sells cosmetics, fashion, electronics and lifestyle products. Its headquarters are in Kuwait and mainly operates in the Middle East region |
Boutiqaat is an eCommerce platform that displays and sells cosmetics, fashion, electronics and lifestyle products. Its headquarters are in Kuwait and mainly operates in the Middle East region. The company was founded in 2015. |
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== Business Model == |
== Business Model == |
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Revision as of 12:00, 29 October 2024
| Founded | 2015 |
|---|---|
| Headquarters | Kuwait |
| Products | Cosmetics, Skincare, Fragrances, Haircare, Korean Beauty, Bath & Body, Eyewear, Contact Lenses, Apparel, Footwear, Sports, Derma, Electronics, Lifestyle, Accessories and Watches |
| Website | www.Boutiqaat.com |
Boutiqaat is an eCommerce platform that displays and sells cosmetics, fashion, electronics and lifestyle products. Its headquarters are in Kuwait and mainly operates in the Middle East region. The company was founded in 2015.
Business Model
The platform provides virtual stores where social media influences and celebrities can share their beauty products recommendations as well as tutorials on how to use these products. The social media followers and fans of these social media influencers can browse through the curated products in the virtual stores and purchase any of these items through Boutiqaat.[1] [2] [3]
History
In 2018, Boutiqaat raised $45 million from Boubyan Petrochemical Company [4].
In 2020, Boutiqaat hired Citigroup Inc to help it raise money and hoped to reach a valuation of a valuation of between US$700 million and US$1 billion. [1] [5]
In 2021, Boutiqaat partnered with Taatira, a perfume and incense company in Gulf. [6]
In 2022, Boutiqaat expanded its operations to Saudi Arabia [7]
Controversy
In 2020, Kuwait's Ministry of interior released names of social media influencers who were suspected of using Boutiqaat for money laundering. [8] As a result, Boutiqaat's accounts were frozen [9] [10]
In 2021, Boutiqaat was acquitted from all money laundering charges. [11]
References
- ^ a b "Luxury Retailer in Kuwait Hires Citigroup to Advise on Options". Bloomberg.com. 2020-06-24. Retrieved 2024-10-17.
- ^ "Boutiqaat: An Online Beauty Boutique to Shop Influencers' Favorite Products". Vogue Arabia. Retrieved 2024-10-18.
- ^ Ebntaymiyah Alshaiji (2024). "The role of social media on Boutiqaat's e-commerce success in Kuwait". doi:10.13140/RG.2.2.20173.24809.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Paracha, Zubair Naeem (2018-12-30). "Rewind 2018: Kuwaiti beauty ecommerce startup Boutiqaat raises $45 million at a reported valuation of $300 million". MENAbytes. Retrieved 2024-10-18.
- ^ Caldwell, Georgina (2020-06-29). "Is Boutiqaat up for sale? Kuwaiti retailer hires Citigroup to 'explore options'". Global Cosmetics News. Retrieved 2024-10-18.
- ^ "«بوتيكات» و «تعطيرة».. شراكة حصريّة وإبداعات سحريّة". جريدة القبس. Retrieved 2024-10-22.
- ^ "«بوتيكات» تعزّز عملياتها التشغيلية وخدماتها اللوجستية في السعودية". جريدة القبس. Retrieved 2024-10-22.
- ^ "The Boutiqaat Saga: Balancing Innovation and Corporate Governance". Arab Gulf States Institute in Washington. 2020-08-17. Retrieved 2024-10-22.
- ^ "25 Saudi influencers linked to Kuwait money laundering scandal". gulfnews.com. 2020-07-28. Retrieved 2024-10-22.
- ^ "High-profile Kuwaiti social media influencers accused of money laundering - The Filipino Times". 2020-08-02. Retrieved 2024-10-22.
- ^ Paracha, Zubair Naeem (2021-04-06). "Kuwaiti beauty ecommerce platform Boutiqaat acquitted in money laundering case". MENAbytes. Retrieved 2024-10-22.