Nykaa has officially approved the acquisition of a 51% stake in the direct-to-consumer beauty and personal care brand, Aminu. The deal is worth a maximum of ₹32 crore and has been projected as a strategy to strengthen Nykaa’s foothold in the premium skin care retail segment as part of its overall business strategy. The transaction is expected to be completed by September 15. After the majority stake purchase, Nykaa plans for a future completion of its 49% stake in Aminu within the coming few years. The original leadership team will retain the same control, with the founders continuing to run the business daily, while Nykaa’s established infrastructure, distribution network, and retail expertise will help facilitate future expansion and scaling efforts on a national scale.

Strategic fit and omnichannel distribution capabilities

The investment follows Nykaa’s targeted strategy of playing in the high-growth premium skin care segment directly. While speaking in the post-earnings call, the executives highlighted that Aminu’s brands offer products priced well beyond the current timeline of House of Nykaa brands in the skin care segment. 

This move will help Nykaa fill its higher-end category in skin care and also attract the more discerning customers who are looking for more premium options. Apart from positioning, the acquisition ultimately bolsters the scientific expertise in the skin care space within the company. Aminu’s vast technological background includes over 30 proprietary formulations backed by significant research and development.

Aminu was founded in 2019 by Prachi Bhandari and Aman Mohunta, who have carved a wide range of products focused on specific skincare requirements. The brand today has a collection of over 60 different skincare products, including specialized treatments like over-the-counter serums, cleansers, sunscreens, moisturizers, face products, and specialized body care products. Aminu also offers its customers free customized skin consults to build brand loyalty and engagement. 

Aminu commits to offering a wide range of products and has a fairly strong omnichannel presence. The brand sells its products on its own brand website, niche online marketplaces such as Nykaa and Clinikally, major e-commerce platforms (e.g., Amazon and Zepto), and through its physical outlets, which are professional salons in India with around 180 outlets spread across the country.

Growth track record and category expansion

Aminu had already built up substantial commercial momentum before this deal. For the financial year 26, the total income of the company was ₹19.4 crore, and the annual growth rate was a huge 50%, outperforming last year’s income of approximately ₹13 crore in financial year 25. One of the key elements that has helped make the business profitable is the purity of ingredients and their formulation.

Aminu sources raw materials from more than 40 countries globally and uses more than 250 active ingredients in its product range in total. Deliberately omitting nearly 3000 ingredients known to cause skin irritation, the brand maintains a high safety level while also working towards high formulation standards.

The investment also supports Nykaa’s House of Brands strategy, where the retailer has repeatedly carried out acquisitions and supported beauty brands. Successful beauty investments and acquisitions in this strategic product are well known to the public, including Dot & Key and Earth Rhythm. 

Nykaa currently has 7 beauty brands and 5 fashion brands in its portfolio, including its flagship home label Nykaa Cosmetics. Nykaa has announced its next phase of acquisition momentum to further build its portfolio of strategic growth areas. These product focus areas consist of high-quality premium perfumery, derma-driven advanced skincare, mid-premium nutraceutical lines, and professional specialty product lines designed for professional makeup artists.

Conclusion

The Investment of a 51% stake in Aminu for up to ₹32 crore represents a significant advancement in Nykaa’s development as a beauty and personal care industry leader in India. The newly launched expert brand comes with Aminu’s research-backed formulations, premium positioning and proven omnichannel effectiveness, closing a gap in a high-end skin care brand. The strategic partnership places both companies in a strong position to meet the rising demand for targeted, clean skincare products backed by scientific research, with the founders of Aminu firmly in control and a clear path for future acquisition to 100% completion.