Nysaa, a joint venture between Nykaa and Apparel Group, has announced plans to open 70 beauty stores in the Gulf Cooperative Council (GCC) region over the next five years. The venture, with Nykaa holding a 55% stake and Apparel Group owning the remaining 45%, aims to tap into the burgeoning beauty market in the GCC. The announcement was made by Nykaa’s executive chairperson, founder, and CEO Falguni Nayar at the recent Startup Mahakhumbh event.
The first Nysaa beauty store, launched in Dubai, features a premium selection of international brands and a focus on personalised service with beauty advisors and content creation booths. Nykaa’s omni channel platform currently offers more than 150 brands and 10,000 products, catering to the evolving preferences of consumers in the beauty and fashion industry.
Nayar emphasised the importance of an omnichannel strategy in meeting consumer needs and fostering lasting connections. The success of Nykaa’s beauty festival, Nykaaland, highlighted the significance of in-person consumer interactions with brands. Nayar mentioned the evolving consumption patterns in India, drawing parallels with China’s growth trajectory 15 years ago, and projected a significant increase in per capita spending on beauty and fashion by 2030.
As Nysaa embarks on its expansion journey, Nayar’s message to young entrepreneurs resonates about the true measures of success beyond financial metrics, emphasising the impact on lives, communities, and the legacy created.
In conclusion, Nysaa’s strategic expansion plans in the GCC signify a significant milestone in the beauty and fashion retail landscape, underlining the brand’s commitment to enhancing consumer experiences and building enduring relationships in the region.
