Nykaa is expanding inter nationally now
Nykaa is always am interesting company to watch out for. Now they are probably setting up a road map for other Indian D2C companies.
Apparel Group owns 70+ brands from footwear to clothes. Also operating brands which originates from US, Europe, Australia.
55% will be owned by Nykaa and 45% will be hold by Apparel Group.
Image Courtesy - Reuters
“Nykaa is unlocking a new frontier by entering into its first international strategic alliance with one of the largest retailers in the middle-east the Apparel Group to now enter our footprint into the GCC countries. We now look forward to recreating our distinct beauty retail value proposition in the GCC,” Falguni Nayyar told reporters.
UAE, Saudi Arabia, Oman, Kuwait, Bahrain.
“Over the years we have added Tommy Hilfiger, Calvin Klien, ALDO, and many others to our portfolio. We consider ourselves regional experts within the retail industry with a digital-first approach a focus on sustainability. We are looking forward to both groups tap each-other’s strengths and tap into beauty and personal care market which is exponentially growing in our region,” said Sima Ganwani Ved, Chairwoman of Apparel Group.