Nykaa enters into a strategic partnership with Apparel Group to setup an omni-channel, multi branded beauty retail operation business in the countries that are part of the Gulf Cooperation Council (GCC) namely the Kingdom of Bahrain, State of Kuwait, Sultanate of Oman, State of Qatar, Kingdom of Saudi Arabia and the United Arab Emirates (UAE) through an entity to be incorporated in the Abu Dhabi Global Market in which FSN International will hold 55% stake and balance 45% will be held by Apparel as on the Closing Date, in accordance with the terms of the Agreement.
This is the first pivot for the company to work towards a global retail brand in the Beauty and Personal care market
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