Nykaa to acquire 51% stake in D2C skincare brand Aminu for up to ₹32 crore

The beauty retailer’s majority acquisition of Aminu is set to deepen its premium skincare house-of-brands portfolio, adding the brand’s R&D-led formulation and omnichannel capabilities. The transaction is expected to close by September 15.

— Source publishedTue, 4 Aug, 2026, 16:52 IST·First seen Tue, 4 Aug, 2026, 17:31 IST·Source Inc42 · Buzz

What happened

Nykaa will acquire a 51% stake in premium D2C skincare brand Aminu for up to ₹32 crore, strengthening its beauty house-of-brands and premium skincare portfolio.

Key facts

  • Nykaa approved acquisition of a 51% stake in Aminu
  • Cash consideration of up to ₹32 crore
  • Transaction expected to complete by September 15
  • Aminu revenue was ₹19.4 crore in FY26, up about 50% YoY from around ₹13 crore in FY25
  • Aminu sources ingredients from over 40 countries
  • Aminu portfolio features over 250 ingredients and excludes almost 3,000 ingredients
  • Nykaa Q1 FY27 consolidated net profit was ₹79.8 crore versus ₹24.8 crore a year earlier
  • Nykaa operating revenue rose 29% YoY and 5% QoQ to ₹2,782 crore in Q1 FY27

Why this matters

Aminu offers Nykaa a relatively small, strategic control acquisition that adds R&D-led skincare IP and supports a broader beauty house-of-brands platform.

What to watch

  • Completion of the transaction by September 15 and disclosure of the final consideration, founder retention terms and performance-linked payouts.
  • Aminu's availability across Nykaa's online platforms and physical stores within the next two quarters.
  • Evidence of new product launches, reformulations, clinical claims or patent/IP investment after the acquisition.
  • Changes in Aminu's discounting, average order value, repeat-purchase cues and marketplace ratings after broader distribution.
  • Further Nykaa investments or acquisitions that indicate a formal house-of-brands strategy rather than a one-off deal.
  • Premium beauty growth, competitive moves by Purplle, Tira, Sephora India and direct-to-consumer skincare consolidators.
  • Add Aminu to more Nykaa Luxe and Nykaa On Trend doors, with targeted placement in high-income urban catchments.
  • Use Nykaa's customer data to build regimen bundles, replenishment prompts and cross-sells with premium makeup, sunscreen and dermatology-adjacent brands.
  • Expand Aminu's clinical-testing, ingredient-transparency and R&D messaging to distinguish it from influencer-led D2C skincare rivals.
  • Launch selective offline consultations, skin-analysis activations and creator-led education to raise conversion for higher-ticket products.
  • Pursue additional minority or majority stakes in differentiated Indian beauty brands, especially in haircare, dermocosmetics, fragrance and wellness.

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