Nykaa incorporates subsidiary for beauty and personal care

FSN E-Commerce Ventures Limited, the parent company of online shopping platform Nykaa, has incorporated wholly owned subsidiary, Nykaa Essentials Private Ltd. The Mumbai-based subsidiary belongs to the Beauty and Personal Care (BPC) Retail business (ecommerce and stores).

It is a newly incorporated company and is yet to commence its business operations.

According to the exchange filing, the purpose of the new subsidiary company is trading and dealing in all kinds of cosmetics, toiletries, beauty, personal care, and health care products, lifestyle products, perfumery products, and other related goods and products of all kinds and descriptions and other related activities.

Nykaa will hold 100 percent ownership in the subsidiary, and the incorporation does not fall under related party transactions, the company said.

In the third quarter of the fiscal year 2025, FSN-Ecommerce's beauty business saw a growth of 32 percent year-on-year at a GMV of Rs 3,389 crore. On the revenue front, Nykaa posted 27 percent growth in Q3, The net revenue of the beauty business stood at Rs 2,060 crore.

Nykaa launched 200 beauty brands in 2024. The company has a network of 221 beauty offline stores of which 47 were added in 2024 and 12 in Q3 FY25.

During the Q3 earning call, the company said that physical retail stores ha splayed a significant role in premiumizing the beauty market. "2/3 of our stores GMV comes from prestige beauty brands from physical store," Nykaa mentioned.

The company has continued its focus on investing in the premiumization of the beauty category.