"Golden Apple" Expands Eastward: Unveils New Outlet in Riyadh
Russian beauty retailer Golden Apple has made a significant stride in its international growth strategy by opening its first store in the United Arab Emirates (UAE), specifically in Dubai. This move marks the beginning of the company's Middle Eastern market penetration and showcases over 25,000 beauty products, including popular Korean beauty items.
Golden Apple's foray into the Middle East is not a one-off event. The company has ambitious plans to solidify a strong local presence through events such as Beauty Weekends and Tea-Time gatherings, aimed at deepening customer engagement and brand recognition. While explicit long-term expansion plans beyond the initial store are not yet detailed, the retailer's active marketing and community engagement suggest a strategy focused on building a loyal customer base and increasing brand awareness in the region.
The company's entry into Dubai, a major regional hub and launchpad for global companies expanding into the Middle East, positions Russian cosmetic brands to benefit from increased visibility and market access. This strategic location acts as a gateway for Russian beauty brands to reach diverse consumers in high-growth markets across the Middle East, Asia, and Africa.
The success of Golden Apple in the Middle East is evident in its recent growth. In the last six months, the number of Russian cosmetic brands in its Middle East assortment has doubled, reaching 50. This expansion has been accompanied by a significant increase in sales, with a 30% growth during this period.
Looking ahead, Golden Apple is set to open a second flagship store in Saudi Arabia in 2026. The new store will be located in Riyadh, making it the retailer's fourth outlet in the Middle East. With this addition, the company's total trading area in the region will reach 7,000 sq.m.
Co-founder of Golden Apple, Ivan Kuzovlev, emphasized the retailer's focus on creating a platform for the export of Russian goods. He underscored the company's strategy of combining quality, innovation, and affordable prices to cater to the diverse needs of consumers in the region. Kuzovlev did not specify any new locations for future stores in the Middle East, but the retailer's commitment to expansion is clear.
Golden Apple is already operating in the UAE (Dubai) and Qatar (Doha). The retailer's entry into Saudi Arabia represents a significant step in its regional expansion and contributes to raising the profile of Russian beauty products on a new international stage. As Golden Apple continues to grow, it is poised to bring a wide range of high-quality Russian cosmetic products to consumers across the Middle East.
- In its quest to expand further in the beauty industry, Golden Apple is planning to open a second flagship store in the finance hub of Saudi Arabia, aiming to cater to the diverse needs of consumers in the region and boost its local presence.
- The success of Golden Apple in the Middle Eastern market is not only reflected in its recent growth, but also in the finance realm as the retailer's sales have seen a 30% increase in the last six months, positioning Russian beauty brands for increased visibility and market access.
