Nykaa’s Parent Company Launches Nysaa Cosmetics in Qatar

On July 4, 2024, FSN E-Commerce Ventures Limited, known for its brand, Nykaa, recently disclosed in a stock exchange filing that its step-down subsidiary, Nessa International Holdings Limited, has established a new wholly-owned subsidiary in Qatar named ‘Nysaa Cosmetics Trading’. This newly formed entity operates as a Single-Member Limited Liability Company.

Nysaa Cosmetics Trading is set to engage in the international exports and retail of Beauty and Personal Care (BPC) products, both online and offline. This expansion aligns with the company’s broader strategy to penetrate new markets and diversify its business operations. The primary business activities of the new subsidiary will encompass trading in women’s cosmetics, toiletry and beauty, and hair care products, as well as trading in perfumes and beauty soap.

The subscribed share capital for Nysaa Cosmetics Trading is set at Qatari Riyal 500,000. As a subsidiary of FSN E-Commerce Ventures Limited, Nessa International Holdings Limited will hold 100% of the shareholding in Nysaa Cosmetics Trading. Since FSN E-Commerce Ventures Limited, through its wholly-owned subsidiary FSN International Limited, holds 55% of the shareholding in Nessa International, the company will indirectly hold a 55% share in Nysaa Cosmetics Trading.

This strategic move into Qatar highlights FSN E-Commerce Ventures Limited’s commitment to expanding its global beauty and personal care footprint. Establishing Nysaa Cosmetics Trading will enable the company to leverage new opportunities in the Middle Eastern region, tapping into a growing beauty and personal care product market. This expansion is expected to strengthen the company’s international presence and drive future growth by capitalising on the region’s increasing demand for high-quality beauty and personal care products.

Recently, in June, FSN E-Commerce Ventures Limited incorporated a subsidiary in Kuwait through its subsidiary Nessa International Holdings Limited. The subsidiary in Kuwait is Nysaa International for Wholesale and Retail Trade, which was established to sell, trade, and retail Beauty and Personal Care (BPC) products, including perfumery, cosmetics, and toiletries. Additionally, it aims to retail these products via the Internet, encompassing all related and ancillary activities.

On July 5, 2024, the share price of FSN E-Commerce Ventures Ltd opened at ₹171.90, touching the day’s high at ₹172.90, as of 9:35 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.