Nykaa parent FSN E-Commerce Ventures has taken its first major step towards building a global presence with the international launch of Kay Beauty in the UK on Thursday.
The brand, created and launched in partnership with Bollywood actor Katrina Kaif in 2019, will debut through a tie-up with Ulta Beauty-owned Space NK, a UK-based luxury beauty retailer.
Global ambition with a celebrity-backed brand
The rollout will cover 13 stores and Space NK’s online platform, marking the first time an India-founded beauty label joins the retailer’s curated portfolio. “The launch of Kay Beauty in the UK is more than just a brand milestone. It marks the beginning of a new chapter for Indian consumer brands with global ambitions. Nykaa has been a pioneer in India’s beauty retail revolution, serving over 45 million consumers by understanding their needs and aspirations,” Adwaita Nayar, Nykaa’s co-founder and executive director, said in an statement.
In an interview with Bloomberg, she said the firm has markets like the US, West Asia and certain parts of Asia on its radar to further expand the presence of Kay Beauty globally. She noted that these regions present significant opportunities to extend the reach of its celebrity-led beauty brand.
The UK move positions the brand in a £30-billion cosmetics market, though it will face formidable competition from incumbents such as L’Oréal, Estée Lauder and newer rivals like TikTok Shop, according to Bloomberg Intelligence.
“We’re thrilled to welcome Kay Beauty to Space NK as our first Indian brand,” Margaret Mitchell, chief commercial officer, Space NK, said. “The brand’s philosophy, rooted in authenticity, self-expression and expert product design, aligns beautifully with what our customers are looking for. This launch allows us to better serve an incredibly important and growing community in the UK, while offering something genuinely unique and meaningful.”
Kay will launch in the beauty retail chain with 197 SKUs (store keeping units) across its portfolio at debut.
Scaling In-house brands to drive future growth
The global push comes at a time when Nykaa’s in-house portfolio—spanning Dot & Key, Nykaa Cosmetics and Kay Beauty—is scaling rapidly. In the June quarter, the House of Nykaa reported an annualised gross merchandise value (GMV) of about `2,700 crore, up 57% year-on-year. Kay Beauty alone has crossed a GMV run rate of over Rs 250 crore, with a 56% growth in the latest quarter, according to the company’s Q1 earnings disclosure.
During its investor day proceedings in July this year, the firm said it aims to nearly triple GMV from its in-house brands to `6,000 crore by FY30, with profitability margins in the “mid-teens to early 20s”.
Nykaa has already experimented with overseas expansion, opening a Dubai store in partnership with Apparel Group and setting up subsidiaries in Qatar and Oman. The Kay Beauty UK launch signals a more structured approach, leveraging a celebrity-backed label to test demand in mature beauty markets.
As the company scales its homegrown brands, Nykaa is also balancing its dual goals of deepening penetration in India and premiumising its offerings. Success in the UK could help validate the global appeal of Indian beauty brands, while giving Nykaa a template for further international forays.
