Nykaa, India’s leading beauty and personal care retailer, has taken a significant step in its global expansion by establishing Nysaa Cosmetics SPC in Oman. The new subsidiary marks another milestone in the company’s strategy to strengthen its presence in the Gulf Cooperation Council (GCC) region, a market projected to reach $50 billion in the beauty and personal care sector by 2027.
With an initial share capital of 30,000 Omani rials (around ₹6 lakh), Nysaa Cosmetics SPC will focus on the trade and retail of cosmetics, perfumes, and hair care products. Through its ownership structure, Nykaa holds a 55% indirect stake in the Oman-based firm.
This move follows Nykaa’s earlier expansions in the GCC, including the launch of Nysaa Distribution FZE in Dubai in November 2024 and Nysaa Cosmetics Trading in Qatar in July 2024. These international ventures contributed to a robust quarter-on-quarter growth in Nykaa’s overseas business during the second quarter of 2024, reflecting the company’s intent to capitalize on the growing demand for beauty products in the Middle East.
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Nykaa’s international push complements its steady growth in India, where it has expanded its presence with over 160 brick-and-mortar stores and a strong online marketplace. Since its IPO in 2021, the company has continued to diversify its revenue streams, with the GCC market emerging as a promising frontier.
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Through initiatives like Nysaa Cosmetics SPC, Nykaa aims to solidify its standing in the $10 billion GCC beauty and personal care industry, positioning itself as a leading player in the region’s thriving market.
