Nykaa's Owner FSN E-Commerce Ventures Expands Abroad with Kay Beauty Launch in the UK

FSN E-Commerce Ventures, owner of Nykaa, is expanding its business overseas by launching Kay Beauty in the UK with Ulta Beauty-owned Space NK. FSN aims to grow the brand globally, including in the US, Middle East, and certain Asian markets. However, the company faces challenges in increasing brand awareness in a competitive cosmetics and skin care market. FSN plans to nearly triple its gross merchandise value for in-house cosmetics brands to ₹6,000 crore by March 2030.