Nykaa to buy 51% of premium skincare brand Aminu for ₹32 crore
Nykaa will acquire a majority stake in Mumbai-based Aminu through an all-cash deal, adding the premium skincare label to its beauty portfolio. Aminu reported FY26 revenue of ₹19.5 crore, up from ₹13 crore a year earlier.
What happened
Nykaa will acquire a 51% stake in Mumbai skincare brand Aminu for Rs 32 crore, strengthening its premium beauty portfolio. Aminu reported FY26 revenue of Rs
Key facts
- 51% stake
- Rs 32 crore all-cash deal
- Aminu FY26 revenue: Rs 19.5 crore
- Aminu prior-year revenue: Rs 13 crore
- Aminu price range: Rs 1,000-1,900
- Nykaa beauty segment NSV growth: 29% YoY
- FSN E-Commerce Q1 FY27 net profit: Rs 80 crore
- FSN E-Commerce prior-year Q1 net profit: Rs 24 crore
- FSN E-Commerce Q1 FY27 operating revenue: Rs 2,782 crore
- FSN E-Commerce prior-year operating revenue: Rs 2,155 crore
Why this matters
The all-cash 51% acquisition gives Nykaa a controlled premium-skincare asset that can deepen portfolio differentiation and capture more value than a marketplace-only relationship.
What to watch
- Aminu's revenue growth and whether it sustains or exceeds its reported rise from ₹13 crore to ₹19.5 crore.
- Distribution expansion into Nykaa stores, Nykaa-owned digital placements and third-party offline channels.
- Changes in Aminu's average selling price, discounting levels, repeat-purchase rate and customer reviews after integration.
- New product launches, dermatological testing or clinical-claims investments that strengthen premium skincare differentiation.
- Whether Nykaa makes additional majority investments or acquisitions in high-growth beauty subcategories, signaling a broader controlled-brand strategy.
- Management commentary on acquisition valuation, consolidation timing, profitability and expected synergies.
- Expand Aminu across Nykaa's app, Nykaa Fashion/Beauty content channels and selected Nykaa Luxe stores.
- Use Nykaa customer data to target premium skincare buyers with routines, bundles, subscriptions and cross-sell recommendations.
- Invest in clinical claims, dermatologist/influencer education, sampling and before-after content to build category credibility.
- Potentially widen Aminu's product range into high-repeat categories such as serums, barrier repair, pigmentation care, sunscreen and travel sizes.
- Retain brand founders and preserve premium positioning while gradually improving supply chain, inventory planning and gross-margin efficiency.