Perfumes Y Diseno (PYD) invested Dh11 million to establish headquarters for its Middle East Unit at the Dubai Airport Freezone. PYD said they are expanding their market in the region by developing tie-ups with retail chains in the United Arab Emirates and throughout the Gulf region.
Managing director for the PYD Middle East Unit, PYD Middle East Distribution FZCO, said “Growth in cosmetics and perfumery business in this market has grown tremendously in the last couple of years, up to as much as 10 times in value and we have set up a regional office to take advantage of the fantastic growth and opportunities available in this market.” PYD’s turnover last years was Dh552 million or $150 million. The company hopes to generate more revenue by expanding into the Middle East Market.
