Nykaa's August move to buy 51% of premium skincare brand Aminu for Rs 32 crore resurfaces
Resurfacing an August 2026 all-cash deal, Nykaa took a controlling stake in Mumbai-based Aminu, strengthening its premium skincare assortment. Aminu reported FY26 revenue of Rs 19.5 crore, while Nykaa's beauty business posted 29% year-on-year NSV growth in the June quarter.
What happened
Nykaa will buy a 51% stake in Mumbai skincare brand Aminu for Rs 32 crore, strengthening its premium beauty portfolio. Aminu’s FY26 revenue reached Rs 19.5
Key facts
- Nykaa will acquire a 51% stake in Aminu for Rs 32 crore in an all-cash deal
- Aminu reported FY26 revenue of Rs 19.5 crore, versus Rs 13 crore a year earlier
- Aminu is a top premium skincare brand on Nykaa.com in the Rs 1,000-1,900 range
- Nykaa beauty segment net sales value grew 29% year-on-year in the June quarter
- FSN E-Commerce Q1 FY27 net profit was Rs 80 crore, versus Rs 24 crore a year earlier
- FSN E-Commerce Q1 FY27 operating revenue rose 29% to Rs 2,782 crore from Rs 2,155 crore
Why this matters
Nykaa’s 51% purchase of Aminu is a targeted control acquisition that adds premium-skincare capability, distribution synergies and potential upside from scaling the brand through Nykaa’s customer base.
What to watch
- Aminu revenue growth, repeat rates and gross-margin trajectory after Nykaa integration.
- The pace of Aminu's rollout on Nykaa online, Nykaa Luxe and physical stores.
- Discount depth and average selling price trends versus Aminu's pre-acquisition premium positioning.
- Nykaa beauty NSV growth relative to its 29% June-quarter year-on-year benchmark.
- New Nykaa investments in or acquisitions of Indian beauty brands.
- Evidence that rival premium skincare brands reduce assortment, marketing participation or exclusive launches on Nykaa.
- Expand Aminu across Nykaa's online storefront, Nykaa Luxe doors and selected Nykaa-owned beauty retail formats.
- Use creator-led education, skin-concern quizzes and bundled regimen merchandising to lift conversion and repeat purchases.
- Increase investment in hero SKUs, clinical claims, packaging and product development to support premium price realization.
- Prioritize offline distribution in major metros while retaining selective-channel controls to protect premium positioning.
- Evaluate additional acquisitions or controlling investments in fast-growing Indian beauty brands, especially derma skincare, haircare and fragrance.