Nykaa launches Kay Beauty x Falguni Shane Peacock limited-edition collection
23 January 2026, Mumbai
The launch of the Kay Beauty x Falguni Shane Peacock (FSP) limited-edition collection marks a crucial shift in the ‘affordable luxury’ segment. By combining Nykaa’s retail dominance with FSP’s couture heritage, the partnership targets a growing Indian luxury beauty market, which is projected to grow at a 12.55 per cent CAGR through 2031. This collaboration specifically addresses the high demand for ‘prestige-at-scale,’ bridging the gap between high-fashion artistry and mass-market accessibility.
Strategic international footprint and revenue drivers
While domestic sales are anchored by Nykaa’s extensive network, the collaboration leverages the Apparel Group’s Nysaa platform for a strategic footprint in the UAE and Space NK in the UK. This cross-border expansion aligns with the global ‘premiumization’ trend, where high-end makeup accounts for nearly 36 per cent of market share in the Indian cosmetics sector. Featuring 12 ‘Luxe Matte’ lipsticks priced at Rs 1,799 and multi-dimensional face palettes at Rs 2,199, the collection is engineered to capture discretionary spending from Gen Z and Millennial cohorts who prioritize ‘Kare-first’ skin-loving ingredients like Brazil Nut Oil and Vegan Collagen.
Bridging heritage design with modern retail analytics
From an operational perspective, the ‘Gatsby-inspired’ Art Deco packaging serves as more than just an aesthetic choice; it functions as a collectible asset designed to drive higher average order values (AOV). By integrating FSP’s metallic motifs with Nykaa’s data-driven consumer insights, the brands have curated shades like Champagne Brocade and Mulberry Cashmere to specifically suit diverse skin tones. This targeted approach is essential as Nykaa navigates a competitive landscape, aiming to sustain its long-term profitability amidst an evolving omnichannel ecosystem.
Co-founded by Katrina Kaif and Nykaa, Kay Beauty is a leading Indian prestige brand specializing in high-performance cosmetics. Distributing across India and select international markets like the UAE and UK, the brand focuses on ‘crushing’ beauty norms through skin-fusing formulas. Kay Beauty remains a cornerstone of Nykaa’s owned-brand portfolio, contributing significantly to the group's revenue growth.
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