Nykaa's takeover of Kiehl's India operations from L'Oréal Luxe resurfaces
Resurfacing a February 2026 move, Nykaa exclusively manages Kiehl's stores, Kiehls.in, digital channels and multi-brand distribution in India, extending its role from retail partner to operating distributor within L'Oréal Luxe's beauty portfolio.
Nykaa will exclusively manage Kiehl’s India operations for L’Oréal Luxe, spanning stores, Kiehls.in, digital channels and multi-brand distribution. The deal integrates Kiehl’s into Nykaa’s omnichannel and logistics network, expanding Nykaa from retail partner to operating distributor.
Why this matters
The development follows signals placing Nykaa in Q1 earnings watch alongside Trent, Titan and Kalyan Jewellers, while repeated reports on the Kiehl’s takeover point to a deeper L’Oréal Luxe operating partnership.
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