Nykaa inks pact with Aveda to launch Prestige salons in the country; stock climbs ~3%

21 Apr 2022 , 09:43 AM

Salon savants in India now have a new destination to enrich their haircare experiences as Nykaa (FSN E-commerce Limited), India’s leading omnichannel beauty and lifestyle destination, in association with Aveda, the global leader in prestige hair care announced the of launch Aveda X Nykaa. A truly upraised salon offering, the first Aveda X Nykaa makes its debut in the garden city of India – Bengaluru. With this opening, Aveda is all set to bring its international hair offerings to Indian consumers, now backed by Nykaa’s Indian beauty expertise and deep market knowledge.

The Beauty and Personal Care Market in India were valued at Rs1,267 billion in 2019, growing at a CAGR of 13% over the last 3 years. Tapping into this market, ELCA Cosmetics Private Limited and FSN Brands Marketing Private Limited (a material subsidiary of FSN E-Commerce Ventures Limited), have joined hands to enter and seize the professional, luxury hair care space, building brand awareness, and authority.

The salons aim to transform the existing haircare standards by developing and expanding Aveda’s exclusive network of salons, on the back of Nykaa’s retail prowess and understanding of the Indian consumer. The salon will be a one-stop shop in the form of a unisex lifestyle salon, providing 100% vegan premium Hair services – Color, haircut styling, and hair care along with exclusive rejuvenating rituals.

Aveda strives to be the #1 Prestige Retail hair Care brand in India, with a unique high performance and clean beauty differentiation. This partnership will combine Aveda’s global expertise in the natural hair care space and Nykaa’s retail and Indian beauty knowledge, to serve the conscious consumers who are looking for differentiated and efficacious experiences.

FSN E-Commerce Ventures Ltd is currently trading at Rs1,841.50 up by Rs46.45 or 2.59% from its previous closing of Rs1,795.05 on the BSE. The scrip opened at Rs1,829.95 and has touched intraday high and low of Rs1,869.55 and Rs1,826.25 respectively.