Nykaa resurfaces February deal to manage Kiehl’s India operations under exclusive L’Oréal Luxe agreement
In a move first struck in February 2026, Nykaa runs Kiehl’s stores, Kiehls.in, digital channels and multi-brand distribution in India, with existing operations continuing as it leads the brand’s future expansion.
Nykaa signed an exclusive agreement with L’Oréal Luxe India to manage Kiehl’s end-to-end India operations, covering stores, Kiehls.in, digital channels and multi-brand distribution. Kiehl’s will join Nykaa’s omnichannel network and leverage its logistics and customer base.
Why this matters
The resurfaced Kiehl’s agreement reinforces Nykaa’s lifestyle retail expansion case flagged in Citi’s March 2022 buy call. A related February 2026 signal previously covered the same L’Oréal Luxe operating arrangement.
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