Key Takeaways:
- Nykaa will acquire a 51% stake in Aminu for up to Rs 32 crore ($3.4 million).
- The India retailer's acquisition signals continued growth of its house-of-brands strategy.
- Aminu is one of the top-performing premium skincare brands on Nykaa.com.
Nykaa will acquire a majority stake in bootstrapped premium skincare brand Aminu.
WHO: Founded in 2019 by Prachi Bhandari and Aman Mohunta, Aminu is a premium skincare brand with a portfolio of roughly 60 products. Aminu promotes its research and development capabilities as a competitive advantage. Its formulations strike a balance between engineered lab-designed molecules and naturally sourced ingredients. The brand has more than 30 proprietary formulations and sources 200 ingredients from over 40 countries. Its products are available at around 180 salons across India, as well as on its own website, Nykaa, Clinikally, Amazon, and Zepto.
Nykaa founder and CEO Falguni Nayar, a former Managing Director at Kotak Investment Banking, founded Nykaa as an e-commerce platform for beauty and wellness products in 2012. The Mumbai-headquartered company launched offline operations in 2015. Nykaa's IPO in November 2021 raised Rs 5,350 crore ($722 million) through the sale. The business has become an omnichannel beauty destination with 72 Luxe and On-Trend and Kiosk Stores and an assortment of 2,400+ brands across makeup, skincare, haircare, bath and body, fragrance, grooming appliances, personal care, and health and wellness categories.
WHY: Nykaa said the acquisition will help strengthen its presence in the premium skincare segment, strengthening its House of Nykaa portfolio and premium beauty segment.
