Indian beauty and fashion retailer Nykaa is set to acquire a 51% stake in Mumbai-based premium skincare brand Aminu for up to ₹32 crore in an all-cash transaction, expanding its presence in the higher-end skincare market. The acquisition was approved by the board of FSN E-Commerce Ventures, Nykaa’s listed parent company, as part of the company’s broader strategy to strengthen its portfolio of owned and partnered beauty brands. The deal adds another specialized skincare label to Nykaa’s growing House of Brands platform.
Deal Structure and Timeline
Under the proposed transaction, Nykaa will initially purchase a controlling 51% interest in Aminu, giving the retailer majority ownership while allowing the brand’s existing founders to remain involved in running the business. Media reports citing the company’s exchange disclosure said the initial transaction is expected to be completed by September 15, subject to customary conditions. Nykaa has also indicated that it intends to acquire the remaining 49% of Aminu over the next few years, creating a path toward full ownership.
Aminu’s Premium Skincare Positioning
Founded in 2019 by Prachi Bhandari and Aman Mohunta, Aminu has built a portfolio focused on science-led premium skincare, including serums, cleansers, sunscreens, masks, moisturizers, sleep oils, and other body care products. Nykaa described the company as operating in a sizeable, high-growth segment and said Aminu ranks among the leading premium skincare brands on Nykaa.com in the ₹1,000 to ₹1,900 price band. The positioning gives Nykaa greater exposure to consumers seeking higher-priced, formulation-driven skincare products.
Product Development and Distribution
Aminu has developed more than 30 proprietary formulations and markets approximately 60 stock-keeping units across multiple skincare categories, giving the company a relatively broad product range for an emerging direct-to-consumer brand. Its products are sold through Aminu’s own website as well as third-party platforms and beauty marketplaces, while the brand also has a presence in salons. Nykaa sees those research, product-development, and distribution capabilities as complementary to its existing beauty infrastructure and customer reach.
Growth and Financial Profile
The bootstrapped skincare company generated approximately ₹19.4 crore in revenue in FY26, according to media reports, representing growth of about 50% from roughly ₹13 crore in the previous financial year. The expansion reflects increasing demand for premium skincare products in India, particularly brands built around targeted formulations, active ingredients, and specialized skin concerns. Aminu’s recent growth and established presence on Nykaa’s marketplace appear to have helped position the company as a strategic acquisition target.
Strengthening Nykaa’s House of Brands
The Aminu transaction fits within Nykaa’s broader effort to expand its House of Brands across different price points and beauty categories rather than relying solely on third-party retail sales. The company has previously invested in or acquired brands including Dot & Key and Earth Rhythm, while continuing to build its own branded beauty portfolio. Adding Aminu gives Nykaa a stronger position in premium, science-oriented skincare and could provide the brand with access to Nykaa’s marketing capabilities, distribution network, and large digital customer base.
Nykaa’s planned acquisition of a majority stake in Aminu represents another step in the retailer’s strategy to build a diversified portfolio of proprietary and controlled beauty brands. The deal combines Aminu’s premium skincare positioning and formulation capabilities with Nykaa’s scale, distribution infrastructure, and established consumer platform. If completed as planned, the transaction could help Aminu accelerate its expansion while strengthening Nykaa’s presence in the premium segment of India’s beauty and personal care market.