Beauty e-commerce giant Nykaa is gearing up to make its international debut by opening its first store in Dubai during the current fiscal year. This strategic move is highlighted in the company’s recently released annual report for FY23.
Nykaa CEO Outlines Global Expansion Strategy
Nykaa’s CEO and MD, Falguni Nayar, revealed the company’s plans to take its success abroad, stating, “We are now taking our playbook international, expanding our BPC (beauty and personal care) business to the GCC region in partnership with the Apparel Group. The current financial year will witness the first store opening in Dubai.”
Expert Leadership for International Venture
Nykaa has appointed Rozita Nouruzi as the CEO of its omnichannel beauty business in collaboration with the Apparel Group in the GCC. Nouruzi previously headed Sephora in the Kingdom of Saudi Arabia. She brings a wealth of experience to this role.
Collaboration with Apparel Group Fuels International Ambitions
Nykaa’s alliance with the UAE-based Apparel Group last year marked its entry into the UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain with its range of beauty products. This collaboration paves the way for the company’s international aspirations.
Growth and Outlook for Nykaa
Nykaa is experiencing strong growth in its beauty and personal care (BPC) segment. Nayar predicts that skincare, makeup, and fragrances will surpass personal care in growth. The premium sector will lead this growth surge. The BPC network’s expansion and Nykaa’s success in the international market contribute to its promising future.
