Kuwaiti e-commerce platform Boutiqaat announced plans to work with Goldman Sachs on a potential IPO that could value the company at over $1 billion, positioning it among the largest private-sector listings in Kuwait’s history. According to the company, the potential listing could take place 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, combining e-commerce with a creator-led retail model. The platform allows consumers to shop products curated by regional influencers, celebrities, and content creators through personalized digital storefronts. Over the past decade, the company has built partnerships with global beauty and luxury brands, including MAC Cosmetics, NARS Cosmetics, and companies within the Chalhoub Group portfolio.
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. The company opened its eighth Korea Town location at The Avenues in Kuwait in May, strengthening its ties with Korean brands and manufacturers while responding to growing consumer demand for K-beauty products in the Middle East. The concept represents one element of Boutiqaat’s broader strategy to diversify its retail offering, deepen international partnerships, and connect regional consumers with emerging global beauty trends.
If completed, the IPO would provide Boutiqaat with additional capital to support future growth initiatives, including international expansion, new partnerships, and continued investment in its retail and digital commerce operations. The proposed listing also highlights growing investor interest in consumer businesses that have successfully blended e-commerce, creator-led marketing, and global brand relationships to capture demand across the Middle East.
