Press releases, Reports & Disclosures for Multiply Group PJSC

The Board of Directors of Multiply Group PJSC held a meeting on February 6, 2024. They approved the audited financial statements for 2023, set the date and agenda for the Company’s General Assembly Meeting (which will be disclosed once approved by the concerned authorities), and discussed other business matters.

Omorfia Group, the beauty branch of Abu Dhabi-based Multiply Group, has acquired 100% of The Juice Spa and Salon. This acquisition aligns with Omorfia's growth strategy through bolt-on investments and strengthens its position in the UAE beauty sector. The Juice Spa and Salon, established in 2005, has ten locations across the UAE and is projected to generate AED 29 million in revenue post-acquisition. The acquisition will not affect the individual brand identities under Omorfia. The newly acquired brand joins six others in Omorfia's portfolio, extending its presence to 82 locations. The funds from this acquisition will be used for potential business expansion, product and service diversification, and operational scaling.

On 13th November 2023, Multiply Group PJSC announced that its beauty division, Omorfia Group, has acquired 100% of The Juice Spa and Salon. The acquisition is part of Omorfia Group's strategic plan for growth through bolt-on investments in the UAE's beauty sector. The Juice Spa and Salon, established in 2005, has 10 locations across the UAE and a team of 172 employees. The brand is projected to generate a revenue of AED 29 million post-acquisition.