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Nykaa ventures into international waters
Startup News FYI
·
1y ago
Medial
Indian beauty e-commerce giant Nykaa plans to expand internationally by opening its first store in Dubai this fiscal year. The company's CEO, Falguni Nayar, stated the move is a part of their international expansion strategy, partnering with the Apparel Group. Nykaa appointed Rozita Nouruzi, former head of Sephora in Saudi Arabia, to lead its GCC omnichannel beauty business. Nykaa's partnership with the Apparel Group has enabled its entry into several countries, with skincare, makeup, and fragrances expected to lead growth.
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Related News
Falguni Nayar Sees India's Rise As Third Largest Consumer Market Globally By 2030
OutlookIndia
·
1y ago
Medial
Falguni Nayar, the CEO of Nykaa's parent company FSN E-Commerce Ventures, predicts that India will become the third largest consumer market worldwide by 2030. Nykaa plans to open its first international store in collaboration with GCC's Apparel Group. Nayar believes that India's entrepreneurial spirit and young population make it an ideal place for consumer-focused businesses. Nykaa is currently the largest beauty specialty retailer in India and has disrupted the industry through a technology-first approach. Nayar emphasized the company's commitment to sustainable growth and long-term profitability.
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Middle East Push: Now, Nykaa Incorporates New Subsidiary In Saudi Arabia
Inc42
·
10m ago
Medial
Nykaa has established a subsidiary called Nysaa Trading LLC in Saudi Arabia. This move is part of their strategy to expand their market globally. Nysaa Trading will focus on selling women's cosmetics, beauty and hair care products, toiletries, perfumes, and beauty soaps in both domestic and international markets. Nykaa also recently opened its first physical store under the Nysaa brand in Dubai to enter the international market.
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Nykaa to raise $2.5 million from Nessa International in two tranches
Livemint
·
1y ago
Medial
FSN E-Commerce Ventures, the parent company of Nykaa, has received approval from its board of directors to secure a $2.5 million investment from Nessa International Holdings for its beauty retail business Nysaa Beauty LLC in the United Arab Emirates. The investment will be made in one or more tranches, with Nessa International acquiring equity shares at AED 1000 per share. Nykaa's shares reached a 52-week high on January 10, and the company projected growth in its beauty and personal care and fashion verticals.
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Nykaa Fashion CEO Nihir Parikh resigns with immediate effect
Livemint
·
8m ago
Medial
The CEO of Nykaa Fashion, Nihir Parikh, has resigned with immediate effect due to personal commitments. Nykaa Fashion is a subsidiary of FSN E-commerce Ventures Ltd. While the beauty segment of the company generates the majority of the revenue, the fashion vertical accounts for less than 10% and is currently experiencing losses.
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Lexdale international to offload Nykaa shares worth INR 490 Cr
Inc42
·
1y ago
Medial
Lexdale International is planning to sell 2.62 crore shares of Nykaa, the beauty ecommerce giant, through open market transactions. The deal, managed by brokerage firms Morgan Stanley and JP Morgan, is expected to be valued at INR 490 crore. Nykaa has experienced consistent growth across its business verticals, with its beauty and personal care arm projected to grow by mid-twenties in terms of gross merchandise value.
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Nykaa appoints ex-Myntra exec to strengthen its fashion vertical; incorporates new unit in GCC
YourStory
·
8m ago
Medial
FSN E-Commerce Ventures, the parent company of Nykaa, has appointed Abhijeet Dabas as the EVP and Business Head of fashion eCommerce. Dabas will be responsible for leading Nykaa Fashion's online growth strategy, expanding its global footprint, and building strategic partnerships. Prior to this, Dabas was CEO of South East Asia at Cars24 and VP of Business at Swiggy. Nykaa recently revealed its Q2 results, with its fashion vertical seeing limited growth due to seasonality. However, revenue increased by 22% mainly due to the success of its digital content platform, Little Black Book.
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Nykaa sees a bright spot in beauty bet, in GCC
Livemint
·
1y ago
Medial
Beauty retailer Nykaa is expanding into the Gulf Cooperation Council (GCC) market through a partnership with UAE retail conglomerate Apparel Group. Nykaa has launched an e-commerce website called Nysaa and opened its first physical store in Dubai. The company plans to establish a significant presence in the region by replicating its domestic omnichannel beauty strategy. Nykaa sees the GCC region as a significant opportunity due to the high per capita spend on beauty and personal care products and a large female population. The partnership with Apparel Group will help Nykaa leverage its extensive retail network in the UAE and other GCC countries.
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US Short-seller alleges accounting fraud by Fairfax
Economic Times
·
1y ago
Medial
Indian-Canadian entrepreneur Prem Watsa's Fairfax Financial Holdings faced an attack from short-seller Muddy Waters, alleging accounting fraud. This caused a 12% drop in Fairfax's shares. Muddy Waters claimed that Fairfax inflated the fair value of its assets to boost its book value, accusing the company of increasing it by $4.5 billion. The National Bank of Canada's research note downplayed the allegations, helping Fairfax recover some losses. Muddy Waters has a short position on Fairfax's stock.
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Nykaa grants 4.73 lakh shares under Esop scheme
Economic Times
·
1y ago
Medial
Nykaa, the beauty and fashion retail brand, has allotted 473,138 equity shares under its employee stock option plan (Esop). The shares were valued at nearly Rs 8.08 crore. This comes as Nykaa aims to continue its industry-leading growth in the $90-billion beauty market. In the previous quarter, Nykaa reported a 187% increase in consolidated net profit to Rs 6.9 crore. The company is also looking to expand into new businesses to further enhance its market presence.
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Malaki raises Rs 5.7 Cr in seed round led by Venture Catalysts
Entrackr
·
3m ago
Medial
Malaki, a premium beverage brand, has raised Rs 5.7 crore ($669K) in its seed round led by Venture Catalysts. Maarc Ventures and the Dadachanji Family Office also participated. The proceeds will be used to expand Malaki’s presence in quick commerce, premium hospitality, and scale its Crystal Bottle product. It plans to strengthen its online channels, sustainability initiatives, and presence in major metro markets such as Delhi NCR, Hyderabad, Jaipur, and Bengaluru. Founded in 2020 by Mohit and Ashish Bhatia, Malaki offers products such as tonic waters, alkaline waters, sparkling waters, and ginger ales, packaged in sustainable glass bottles. The brand gained visibility after appearing on Shark Tank India and is known for its patented Crystal Bottle design. Malaki currently operates in over 500 premium HORECA outlets and has partnerships with brands like Singapore Airlines, Ritz Carlton, and Hyatt in cities like Mumbai, Pune, and Goa. Venture Catalysts, which has backed startups like Beardo, Pee Safe, and BharatPe, sees strong growth potential in Malaki. The Indian premium beverage market is expected to grow rapidly, driven by consumer demand for healthier and sustainable alternatives.
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