“New Distinctive Skincare Products to be introduced in the UAE Market” Dubai, United Arab Emirates, 17th of June 2015: INDEX Trading & Investment (ITI), a member of INDEX Holding, signed a cooperation agreement earlier this week with Timeless Truth Gulf at the headquarters of the INDEX Holding in the city of Dubai.
The agreement between INDEX Trading & Investment and Timeless Truth Gulf is to allow INDEX Trading & Investment to distribute their products to major retail outlets across Dubai and the UAE. The agreement was signed by Eng. Anas Al Madani, Vice Chairman & CEO of INDEX Holding and Mr. Simon Han, Chief Operating Officer of Innovex General Trading, representing Timeless Truth in the region.
The United Arab Emirates is witnessing a premiumisation trend within beauty and personal care, as consumers are increasingly looking for products designed to tackle specific problems or offer clearly defined benefits. It is worth mentioning that according to Euromonitor International, the retail value for the Middle East and Africa’s beauty and personal care market was $26bn (Dh95.42bn) in 2014, while its estimated 4.8% annual growth rate between 2014-2019 is almost twice the global average of 2.6%.
Commenting on the agreement, Eng. Anas Al Madani, Vice - Chairman and CEO of INDEX Holding, said: “INDEX Trading & Investment is always keen to introduce top-tier products to the UAE market through its network of international business partners. Today, we are pleased to be Timeless Truth’s exclusive country distributor in the UAE.”
Eng. Anas Al Madani added: “Recent figures released by Euromonitor International indicated that the beauty and personal care industry in the UAE is booming, with overall spending expected to reach $1.3 billion (Dh4.77 billion) by 2017. Sales of beauty products in UAE benefit from a number of factors, including high disposable income levels in the country, a strong shopping culture, and huge influx of tourists. Therefore, we are confident that these distinctive skincare products will do well in the UAE market.”
From his side, Mr. Simon Han, Chief Operating Officer of Innovex General Trading said: “INDEX Trading & Investment’s deep commitment to the medical industry and innovative healthcare products is something we look for and respect. This is why we are partnering with them to introduce Taiwan's most extraordinary products to the UAE market.”
It is worth mentioning that Timeless Truth Gulf had introduced their line of products during their participation in 15th Dubai World Dermatology and Laser Conference and Exhibition (Dubai Derma 2015) that took place last April in the city of Dubai, and they were meet with positive feedback which encouraged to increase their presence in this region.
INDEX Trading & Investment (ITI) commenced its operations in 1983. ITI provides exclusive partnerships, which allow their partners to make strategic and profitable investment in specific sectors, as well as bring business opportunities and returns to their partners.
Timeless Truth is a Taiwanese manufacturing company specialized in the research and production of skin care products. Since its inception in 1998, Timeless Truth has been an active player in the worldwide trade of skincare products. In 2010, Timeless Truth entered the French market and soon established itself as the no.1 selling brand of facial sheet masks.
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Suzan Mounzer
Media and PR Executive
Media & Marketing Department
Tel: +971 43624717
Mob: +971 569070443
E-mail: suzan.mounzer@index.ae
