After Dubai, Nykaa’s Kay Beauty makes UK debut via Space NK partnership

FSN E-Commerce Ventures Ltd., the parent of Nykaa, has taken its celebrity-led beauty brand Kay Beauty to the United Kingdom as part of its global expansion push. The brand, co-created with Bollywood actor Katrina Kaif in 2019, debuted on August 28 in partnership with Ulta Beauty-owned retailer Space NK, Co-Founder and Executive Director Adwaita Nayar told Bloomberg.

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Kay Beauty products will now be available across 13 Space NK stores in the UK and on its online platform. The launch marks a key milestone in FSN’s strategy to expand beyond India, where it has already established a strong presence.

The Mumbai-based company is also exploring entry into the US, Middle East and select Asian markets. It has already forayed into the Middle East through a Dubai store in partnership with the UAE’s Apparel Group and set up subsidiaries in Qatar and Oman.

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FSN’s international ambitions come as competition heats up in the UK from global cosmetics giants like L’Oréal and Estée Lauder. Still, the company is betting on differentiated offerings tailored for diverse skin tones and South Asian consumers, including staples like kohl.

At home, India’s beauty and personal care sector is projected to grow from $21 billion in 2023 to $34 billion by 2028, according to Redseer Strategy Consultants. FSN aims to grow the gross merchandise value (GMV) of its in-house brands, including Kay Beauty, from about ₹21,000 crore in FY24 to ₹60,000 crore by FY30.

According to Falguni Nayar, Executive Chairperson, Managing Director & CEO of Nykaa, the omnichannel retailer has made several strategic investments in innovation, technology and customer experience in FY2025 to "shape the next phase of growth".

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"AI, personalisation and virtual try-ons have been some of the crucial drivers of growth for the company," Falguni mentioned in Nykaa's annual report. Additionally, Nykaa's focus on advertising and marketing, and expanding its influencer network has helped boost its customer base, net revenue, as well as EBITDA, she noted recently.

Nykaa's consolidated ads and marketing spends rose by 34.5% to Rs 994.82 crore in FY2025. Marketing expenses rose to 12.5% of revenue compared to 11.6% in FY2024.