FSN E-Commerce Ventures Establishes Nysaa International in Kuwait

On June 6, 2024, Nessa International Holdings Limited, an FSN E-Commerce Ventures Limited subsidiary, established a new wholly-owned subsidiary in Kuwait named Nysaa International for Wholesale and Retail Trade.

The promoter, promoter group, or affiliated entities are not involved or interested in the established entity. Therefore, there are no concerns regarding the nature of interest or whether the transaction is conducted at arm’s length.

The entity being established, Nysaa International for Wholesale and Retail Trade, operates within the industry of international exports and the retail sale of Beauty and Personal Care (BPC) products, encompassing both online and offline channels and associated activities.

The newly incorporated subsidiary, Nysaa International for Wholesale and Retail Trade, focuses on selling, trading, and retailing Beauty and Personal Care (BPC) products, including perfumery, cosmetics, and toiletries. Additionally, the subsidiary is dedicated to retail sales through online channels, specifically the Internet, providing customers convenient access to a wide range of BPC products. These objectives reflect the company’s commitment to catering to the growing demand for BPC products in traditional and digital retail spaces.

Details Of Acquisition

The consideration for the acquisition is cash. The subscribed share capital for the newly established company amounts to KWD 10,000.

Nessa International will acquire 100% of the shareholding in Nysaa Kuwait. Given that the Company, through its wholly-owned subsidiary FSN International Limited, holds a 55% shareholding in Nessa International, it will indirectly hold a 55% shareholding in Nysaa Kuwait.

About FSN E-Commerce Ventures Limited

FSN E-Commerce Ventures Limited, founded in April 2012 by billionaire Falguni Nayar, owns and operates Nykaa, a prominent online retailer specialising in beauty, wellness, and fashion products. Nykaa made history in 2020 by becoming the first Indian unicorn startup led by a woman entrepreneur. Initially launched through its website in 2012, Nykaa has expanded its presence to include a mobile app and a network of over 100 outlets. Under Nayar’s leadership, Nykaa has grown into one of India’s premier beauty and lifestyle brands, serving nearly one crore shoppers through its retail stores and online platforms.

On June 7, 2024, the share price of FSN E-Commerce Ventures Limited opened at ₹170.00, touching the day’s high of ₹172.00 as of 11:15 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.