Nykaa's Parent, India’s Top Online Beauty Retailer Eyes Growth in UK and Beyond

India's largest beauty retailer FSN E-Commerce Ventures Ltd., which owns the Nykaa platform, is expanding overseas business operations in an attempt to take on global cosmetics giants outside of its home market.

The Mumbai-based company is launching Kay Beauty in the UK Thursday with Ulta Beauty Inc.-owned Space NK, FSN's Co-Founder and Executive Director Adwaita Nayar said in an interview. It's part of an effort to grow the brand — developed in partnership Bloomberg Terminal with Bollywood actor Katrina Kaif in 2019 — beyond India, potentially including “the US, Middle East and certain markets in Asia,”she said.