Kay Beauty clocks ₹300-crore annualised sales run rate as House of Nykaa builds scale

When Katrina Kaif and Nykaa launched Kay Beauty in 2019, the proposition was to build a makeup brand around the actor’s association with beauty. Seven years later, the business has grown into a profitable, ₹300-crore annualised sales operation, with ambitions that extend beyond India.

Kay Beauty recorded an annualised net sales value (NSV) run rate of ₹300 crore in the first quarter of FY27, marking threefold growth over the past three years. Nearly 3 million consumers have purchased from the brand to date, according to a company statement.

The growth is meaningful for Nykaa as it builds its portfolio of owned consumer brands alongside its core beauty retail business. Kay Beauty is now positioned as India’s largest celebrity beauty brand, with profitability, premiumisation and international expansion shaping its next phase.

Unlike many new-age consumer brands that spend years investing in customer acquisition and building scale before turning profitable, Kay Beauty achieved profitability within its first year of operations. The business now reports a healthy double-digit EBITDA margin and a return on capital employed (ROCE) of over 50%, pointing to its ability to generate returns while continuing to invest in product development and expansion.

House of Nykaa’s beauty portfolio crosses ₹2,000 crore

Kay Beauty’s trajectory is also a reflection of the growing scale of Nykaa’s in-house beauty portfolio. House of Nykaa, which includes brands such as Nykaa Cosmetics, Dot & Key, Nykaa Wanderlust and Earth Rhythm, generated an annualised NSV of ₹2,032 crore in Q1 FY27. The portfolio has sustained year-on-year growth of more than 50% over the past three years, according to the company.

For Nykaa, building its own brands offers an opportunity to move beyond retailing third-party labels and develop products around consumer insights, distribution and its existing customer base. Kay Beauty’s growth has been supported by this ecosystem, which combines technology, retail reach and brand-building capabilities.

Product launches, meanwhile, have also emerged as a key growth driver for Kaif's business.

In Q1 FY27, new launches contributed approximately 40% of Kay Beauty’s business, which speaks about the the role of innovation in attracting consumers and keeping the portfolio relevant. The brand has also been moving towards premiumisation, including through a limited-edition collaboration with designer label Falguni Shane Peacock and the introduction of differentiated product formats.

International expansion gathers momentum

Kay Beauty is increasingly looking overseas for growth.

It entered the UK through a partnership with beauty retailer Space NK in September 2025, becoming the first beauty brand founded in India to join the retailer’s curated global portfolio. Soon after its launch, the brand ranked among the top five brands across Space NK stores, according to Nykaa.

In the Gulf Cooperation Council (GCC) region, Kay Beauty is available through Nysaa, Nykaa’s omnichannel beauty platform, where it ranks among the top three brands, the company said.

The international push marks a shift from building a predominantly India-focused celebrity brand to establishing a presence in global beauty retail. Kay Beauty’s challenge will be to sustain this early traction while scaling distribution and maintaining profitability.

For Nykaa, the numbers offer a measure of how its owned-brand strategy is evolving in its journey of last 14 years.