Indian beauty retailer Nykaa, via its parent company FSN E-Commerce Ventures, has approved the purchase of a 51% majority stake in direct-to-consumer skincare brand Aminu for a cash consideration of up to Rs 32 crore ($3.8 million).
The transaction, structured on a fully diluted basis, is expected to complete by 15th September, with Nykaa planning to acquire the remaining 49% stake over the next few years. Founded in 2019 by Prachi Bhandari and Aman Mohunta, who will continue to lead the business, Aminu offers a portfolio of more than 60 skincare products including serums, cleansers, sunscreens, moisturisers, face masks and body care products. The brand reported turnover of 19.44 crore INR ($2.3 million) for the financial year ending March 2026, reflecting a 50% year-on-year increase.
The acquisition adds to Nykaa’s ongoing House of Brands strategy under its House of Nykaa unit, following previous investments in beauty brands such as Dot & Key and Earth Rhythm.
Adwaita Nayar, co-founder of Nykaa and CEO of House of Nykaa, said: “At Nykaa, we are building the House of Nykaa, a portfolio of distinctive brands that are redefining beauty for the Indian consumer. Aminu is a natural addition to that vision. Its premium positioning, loyal following, and genuine R&D depth make it more than an acquisition – it’s a capability addition to our ecosystem”.
Source: Indian Startup News / Indian Retailer
