Wrinkle-zapping anti-ageing products helped Al Ittihad Drug Store’s first-quarter revenue increase 28 per cent.
The company captured booming demand for over-the-counter cosmetic products in the UAE.
The Dubai-based pharmaceutical distributor grew revenue to about Dh78 million, said Ahmad Tabari, the chief executive.
The company’s consumer division achieved the highest rate of growth, driven by sales of products such as Fillerina, a wrinkle-filling treatment that costs between Dh550 and Dh600 per box.
“More people are doing this at home instead of spending thousands of dirhams at cosmetic clinics,” said Mr Tabari.
The company has also started to distribute Medcoll, a collagen product. The value of the Middle East and Africa beauty and personal care market is expected to reach US$40 billion by 2018 from $25.5bn last year, according to Euromonitor International data.
The regional market is driven by Saudi Arabia, Iran and the UAE, which together accounted for about $9.5bn last year.
Cosmetic surgery clinics have also mushroomed in the UAE in recent years drawn by rising disposable incomes.
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