Beauty / article
Boutiqaat Plans Goldman Sachs-Backed IPO with $1 Billion Valuation Target
Kuwait-based beauty and lifestyle e-commerce platform Boutiqaat is working with Goldman Sachs on a potential initial public offering that could value the company at over $1 billion, with a possible listing as early as the first quarter of 2027.
Founded in 2015, Boutiqaat has grown into one of the Gulf region's leading beauty, fashion, and lifestyle marketplaces. The platform combines e-commerce with a creator-led retail model, allowing consumers to shop products curated by regional influencers, celebrities, and content creators through personalized digital storefronts.
The IPO announcement follows years of expansion across both digital commerce and physical retail. In 2018, Boutiqaat raised $45 million from Boubayan Petrochemical Company at a reported valuation of between $250 million and $300 million. By 2019, the company was reportedly valued at approximately $500 million, reflecting the rapid growth of its influencer-driven retail model and growing presence across the Gulf region.
More recently, Boutiqaat has expanded its beauty retail footprint through Korea Town by Boutiqaat, a concept dedicated to Korean beauty and lifestyle brands. This move signals further diversification as the company prepares for its potential public listing.