FSN E-Commerce Ventures Limited, the parent company of beauty and personal care giant Nykaa, has announced the incorporation of a step-down subsidiary in the Kingdom of Saudi Arabia. The newly formed entity, named Nysaa Trading LLC, will operate as a wholly owned subsidiary under Nessa International Holdings Limited, a subsidiary of FSN International Limited.
The new subsidiary aims to focus on the trading of cosmetics, toiletries, beauty and hair care products, perfumes, and beauty soaps in both domestic and international markets, enhancing Nykaa’s global presence in the beauty and personal care (BPC) sector.
Key details of the incorporation:
- Name: Nysaa Trading LLC
- Industry: Beauty and personal care products (online and offline)
- Shareholding: Nykaa will indirectly hold 55% of Nysaa Trading LLC through its subsidiary, Nessa International Holdings.
- Subscribed Capital: Saudi Riyal 300,000
- Business Operations: Nysaa Trading LLC is yet to commence operations.
This move is part of Nykaa’s strategy to expand its international footprint, particularly in the Middle East region, a burgeoning market for beauty and personal care products.
