Nykaa Enters Global Market with Kay Beauty Launch in UK

Nykaa, India's largest beauty retailer, has begun its global expansion with a UK foray through Ulta Beauty-owned Space NK. The company has launched Kay Beauty in Britain, developed with actress Katrina Kaif, and plans to expand to the US, Middle East, and certain Asian markets. The move brings Nykaa into direct competition with global majors such as L'Oreal and Estee Lauder in one of the world's most competitive cosmetics markets. Nykaa's shares were up 0.13% on Thursday.

India's leading beauty retailer, Nykaa, has embarked on a significant global expansion, marking its entry into the competitive international cosmetics market. The company has launched Kay Beauty in the UK through Ulta Beauty-owned Space NK, with plans to extend its reach to the US, Middle East, and certain Asian markets [1].

Kay Beauty, developed in collaboration with actress Katrina Kaif, is set to debut in 13 Space NK stores and online across the UK. Nykaa aims to increase the gross merchandise value of its in-house brands by 2030, signaling a strong commitment to international growth [1].

Nykaa's global expansion comes at a time when the domestic beauty and personal care sector is projected to grow significantly, reaching $34 billion by 2028 from $21 billion in 2023. The company's recent financial performance, with a consolidated net profit of ₹24 crore in the June quarter, up 79% from ₹14 crore a year earlier, underscores its robust financial health [1].

This move positions Nykaa directly against global giants such as L'Oreal and Estee Lauder, which have established strong international presences. Nykaa's strategy to tap into new markets aligns with its ambition to nearly triple the gross merchandise value of its in-house brands to ₹60 billion by March 2030 [1].

Nykaa's shares were trading at ₹232.25 apiece on the BSE, up 0.13% on Thursday, reflecting investor confidence in the company's growth prospects [1].

Meanwhile, Estee Lauder's international operations provide a contrast to Nykaa's expansion. Estee Lauder reported a total revenue of $3.41 billion for the quarter ending June 2025, a decrease of 11.9% from the year-ago quarter. Europe, the Middle East & Africa accounted for 37.9% of the total revenue, while Asia/Pacific contributed 34.2% [2].

While Nykaa's global expansion introduces challenges, such as currency fluctuations and geopolitical uncertainties, it also presents opportunities for growth and diversification. Nykaa's strategic move to enter the UK market through Space NK highlights its ambition to compete with established international players [1].

References:
[1] https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/nykaa-takes-its-beauty-battle-global-to-take-on-cosmetic-giants/articleshow/123557715.cms
[2] https://finance.yahoo.com/news/estee-lauder-el-international-revenue-131502906.html