Nykaa Expects Strong Growth as India Spends More on Brands Like Dior, Shiseido

Inside a Nykaa Luxe store in Mumbai, India.Photographer: Dhiraj Singh/Bloomberg
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India’s top beauty retailer FSN E-Commerce Ventures Ltd., which operates Nykaa, expects rising affluence to fuel its fast-paced growth in a nascent market as global brands from Dior to Shiseido and Tom Ford lure buyers even in the smaller cities.