| | NOVEMBER 20239KKR TO FUNNEL $400 MILLION TO MALAYSIA FIRM OMS GROUPIN FOCUSINDIAN-BASED F&F COMPANY, SACHEEROME TO INVEST $5 MN IN R&DSacheerome, an Indian-based Fragrance & Flavour (F&F) company, intends to invest more than $5 million over the next three to five years to establish a Research & Innovation Centre, Application Lab, Evaluation Centre, Sales office, and Warehouse in the United Arab Emirates. The company wants to raise its revenue by 10 times over the next 36 to 60 months in order to fortify its position in the growing UAE market."We have been supplying F&Fs in this region for decades. The Middle East is a confluence of cultures from across the world, and the business is remarkably fluid. Earlier London, Rome & Paris were the luxury market trendsetters but today, Dubai is as big a fashion & lifestyle powerhouse. Given our deep understanding of the pulse of consumers here and the backing of the partners we work with, we believe this is the time to expand and grow our business here," said Manoj Arora, Managing Director of Sacheerome, at BeautyWorld Middle East 2023, where they are exhibiting at Sheikh Saeed Hall 3 | E 12.Currently, The FMCG sector in the United Arab Emirates brings approximately $50 million annually from the sale of Sacheerome products, which are made in the Gulf and India. Speaking on the shifting purchasing patterns and tastes of Middle Eastern consumers, Mr Arora said: "The region has transformed into a global hub. Today, the consumer choices are more milder and fine fragrances. Oud and Natural Agarwood of Assam have become a big hit here."With over 10,000 items and a presence in 30 countries, the Delhi-based company is a trendsetter in the fragrance and taste market, helping top FMCG brands create sensory experiences for customers. The company was founded in the 1900s.On the new product & technologies Sacheerome is introducing in the UAE market, Arora said: "We have pioneered four new technologies ­ Sach/Maxicap, Sach Veda, Sach/Natura, Sach/Odocon. These are aimed at providing superior fragrance experience for our consumers, boosting fragrance performance, with Indian naturals at the core of technology innovation."Comparing the Middle East and Indian consumer's choices, Arora said: "While India is a huge price sensitive market, Middle East shoppers, with their strong purchasing power, are willing to spend more on high quality niche products". The taste and fragrance market in the Middle East and Africa (MEA) was valued at roughly $2.92 billion in 2023, and it is projected to grow to approximately $4.16 billion by 2032.
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