Nykaa takes majority stake in premium skincare brand Aminu
The Indian beauty retailer's acquisition signals continued consolidation of its house-of-brands strategy in the fast-growing premium skincare segment.
Nykaa has agreed to acquire a 51% stake in Aminu, an Indian skincare brand known for serums and sleep oils, for Rs 32 crore. The company described Aminu as one of the top-performing premium skincare brands on its own platform, Nykaa.com, within the Rs 1,000 to Rs 1,900 price bracket, a segment it flagged as sizeable and high growth.
The deal fits a pattern Nykaa has followed for several years: using its position as India's dominant beauty retailer to identify brands that already perform well on its marketplace, then buying into them directly rather than simply stocking them. That gives Nykaa a stake in the upside of categories it helped popularise, and gives smaller founders capital and distribution reach without a full sale. It mirrors similar house-of-brands consolidation moves by beauty retailers globally, where owning equity in fast-growing labels is seen as a hedge against relying purely on wholesale margins.
For Aminu, the investment is likely to accelerate its scaling ambitions in a crowded but expanding premium skincare market, where Indian consumers are trading up from mass-market products. The bigger question is whether Nykaa can replicate this playbook at volume: identifying winners early, taking a controlling stake before rivals or private equity firms move in, and integrating them without diluting the brand equity that made them attractive in the first place. Watch for whether Nykaa discloses further plans for Aminu's product range or distribution beyond its own platform.
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