Nykaa announced a joint venture with Dubai-based Apparel Group. It is a global fashion and lifestyle retail conglomerate. The alliance will create an omni-channel multi retail brand in the middle east. Nykaa will hold 55% stake in the new entity and Apparel Group 45% stake. Nykaa said it will bring its proven expertise to the alliance. It will leverage the Apparel Group’s robust retail infrastructure network and deep market relationships.
