Nykaa is acquiring a 51% stake in Mumbai-based premium skincare brand Aminu for ₹32 crore in an all-cash deal, expanding its House of Nykaa portfolio and deepening its play in the fast-growing premium beauty segment.
Aminu, founded in 2019 as a bootstrapped skincare startup, has become one of the top-performing premium skincare brands on Nykaa’s platform in the ₹1,000–₹1,900 price band, known for products like serums and sleep oils. The brand posted revenue of ₹19.5 crore in FY26, up from ₹13 crore the year before.
Nykaa said Aminu’s brand positioning, R&D strength and omnichannel presence made it a strong fit within its beauty stable, which already includes Kay Beauty, Dot & Key and Nykaa Cosmetics. Reports suggest Nykaa may eventually acquire the remaining stake over the coming years, with Aminu’s founders staying on to lead the business. The first phase of the deal is expected to close in the September quarter.
The announcement came alongside Nykaa’s Q1 FY27 results. Parent company FSN E-Commerce Ventures reported net profit of ₹80 crore, more than triple the ₹24 crore posted a year earlier, while revenue rose 29% year-on-year to ₹2,782 crore – driven largely by the beauty segment, which also grew 29% across e-commerce, retail and owned brands.
The deal underscores growing consolidation in India’s beauty market, as larger platforms double down on niche premium brands to sharpen their portfolios and deepen customer engagement.
