THE WHAT? As part of its strategic Middle East expansion, beauty ecommerce giant Nykaa’s step-down subsidiary, Nessa International Holdings, has established a wholly-owned subsidiary in Qatar named Nysaa Cosmetics Trading.

THE DETAILS In an exchange filing, Nykaa announced that Nysaa Cosmetics Trading, a single-member Limited Liability Company, will focus on international exports and the sale, trade, and retail of beauty and personal care products. This includes women’s cosmetics, toiletries, beauty and hair care products, perfumes, and beauty soaps.

THE WHY?  This move follows Nykaa’s partnership with UAE-based Apparel Group in 2022 to enter the Gulf Cooperation Council (GCC) region. Earlier this year, the company launched a Nysaa-branded store in Dubai, featuring international brands like Kylie Cosmetics, Kay Beauty, Rituals, and Stila. Nykaa plans to open 70 stores in the GCC over the next five years, aiming for a 7% share in the GCC prestige beauty market. Domestically, Nykaa projects a CAGR of mid-to-late 20% in its beauty business until FY28 and anticipates its fashion vertical to grow 2.5-3X over the next three years.