Multi-brand beauty retailer Nykaa has launched two US-based brands on its e-commerce website to bolster its international offering. The business has launched North Carolina-based haircare brand Virtue and Los Angeles-based skincare brand Versed on its platform.
Nykaa has launched both US brands as platform and in-store exclusives in the Indian market, bringing them to shoppers in the country for the first time, India Retailing reported. Haircare brand Virtue has launched on Nykaa’s e-commerce store with 35 products, which include single items and curated product sets, according to the business’ website.
Versed is a fully vegan skincare brand and mixes pastel hued packaging with targeted skincare solutions. The brand’s products retail from Rs 750 to Rs 2,050 and include retinol serums, sunscreens, and moisture creams among others.
Earlier in August, FSN E-Commerce Ventures, which operates the Nykaa business, reported an 8% increase in net profit to total Rs 5.43 crore in the first quarter of the 2024 financial year compared to Rs 5 crore in the first quarter of the 2023 fiscal. The business also saw its revenue for the quarter increase by 24% to total Rs 1,421 crore, compared to Rs 1,148 crore in the corresponding quarter of the previous financial year.
Launched in 2012 by entrepreneur Falguni Nayar, Nykaa is today one of India’s largest beauty retailers. The business opened its first brick-and-mortar store in Mumbai in 2015 and now retails from stores across India.
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