India, Aug. 4 -- Beauty and personal care marketplace Nykaa's board of directors has approved a 51% stake acquisition of D2C skincare brand Aminu for a cash consideration of up to Rs.32 Cr.

As per exchange filings, the transaction is expected to be completed by September 15.

Founded in 2019 by Prachi Bhandari and Aman Mohunta, Aminu retails skincare products including serums, cleaners, sunscreen, masks, moisturisers and other body care products. The startup also offers free skin consultation services.

Its products are priced in a more premium category, a segment where Nykaa is trying to expand in.

Apart from the seven year old business' premium positioning, Nykaa also seeks to benefit from its strong R&D and omnichannel distribution c...