Floward has completed the acquisition of Mubkhar, a brand of perfumery in the GCC.
Since its establishment in 2015, Mubkhar has since expanded its footprint to Saudi Arabia, Bahrain, and Qatar from its home base in Kuwait.
The acquisition fits Floward's strategy in maintaining and strengthening the vision of being the dominant online quick commerce gifting platform in the MENA region and in the UK.
Floward initially partnered with Mubkhar to sell their luxurious fragrances on its platform years ago, and the brand has since become a top seller across the GCC, making this acquisition the natural next step of the two companies' relationship. Floward will be investing in expanding Mubkhar's product breadth and points of sales and furthering its growth while preserving the uniqueness and exclusivity of its offering.
Commenting on the acquisition, Floward Chairman & CEO, Mr. Abdulaziz B. Al Loughani, said: "We are thrilled to join forces with Mubkhar, a brand that without a doubt has left its mark in the fragrances and gifts market. This acquisition is proof that we're forging ahead in the right direction with expanding our gifting categories, and having an exceptional team led by Khalid AlMannaa on board is a pivotal step forward in our expansion strategy. With our companies aligned on the same vision to offer our clients the best gifts through great customer services, we are certain that we will be further cementing our leading market position."
Mubkhar's Founder and CEO, Mr. Khalid Nawaf AlMannaa, said: "We are proud of what Mubkhar has achieved since we launched, and being acknowledged and acquired by a brand as big and as successful as Floward is a true testament to the success we're witnessed over the years. We are happy about taking our relationship with Floward to the next level and excited for Mubkhar's future as we continue to bring our customers the best fragrances and the great customer experience they're used to."
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