Nykaa Takes Kay Beauty to the UK in Global Expansion Push

By siliconindia | Thursday, 28 August 2025, 06:06 Hrs

Nykaa launches Kay Beauty in the UK via partnership with Space NK.
Company targets global growth, eyes expansion in the US, Middle East, and Asia.
Aims to triple sales of its owned beauty brands by FY 2030.

India’s leading beauty and lifestyle retailer, FSN E-Commerce Ventures Ltd., which owns Nykaa, is stepping up its global expansion efforts. The company is launching its proprietary brand Kay Beauty in the UK through a partnership with Space NK, a beauty retail chain owned by Ulta Beauty Inc.

Kay Beauty products will be available in 13 Space NK stores across the UK and on the retailer’s online platform. Developed in collaboration with Bollywood actor Katrina Kaif in 2019, Kay Beauty offers a wide range of cosmetics, including kohl and other products suited to diverse skin tones.

Nykaa’s international push comes as it looks to compete with global beauty giants such as L’Oreal and Estée Lauder. Beyond the UK, Nykaa is exploring potential entry into the US, Middle East, and selected Asian markets. The company already operates a store in Dubai and has set up subsidiaries in Qatar and Oman.

Domestically, Nykaa has enjoyed a first mover advantage in India’s online beauty retail space. Rising consumer spending, strong Gen Z and millennial engagement, and social media influence have driven rapid growth. The Indian beauty and personal care market is expected to grow from $21 billion in 2023 to $34 billion by 2028.

Also Read: Nykaa Q1 Beauty Drives Growth While Fashion Shows Recovery

Nykaa aims to nearly triple the gross merchandise value (GMV) of its own brands, including Kay Beauty, Dot & Key, and Nykaa Cosmetics, to Rs 60 billion (approx. $685 million) by FY 2030. In FY 2023–24, these brands recorded a combined GMV of Rs 21 billion.

Shares of Nykaa have risen nearly 40% this year, significantly outperforming the broader Nifty 50 index. Looking ahead, the company is also focused on expanding its fashion vertical and own lingerie brand line to boost future growth.