Domestic startups see Gulf region as their next destination

Several Indian startups are setting their sights on the Gulf markets, on the back of the region’s burgeoning middle class and high disposable incomes. From beauty and fashion to mobility and home services, these startups see immense growth potential by catering to premium consumer segments.

For instance, Nykaa, the beauty and fashion e-commerce firm, recently announced plans to widen its omnichannel presence in the Gulf Cooperation Council (GCC). During the company’s Q4 analysts call, founder and CEO Falguni Nayar stated that Nysaa, their e-commerce website launched in the UAE in October 2022, could generate revenue and profit much faster than in other markets. Nykaa opened its first international brick-and-mortar store in Dubai in March.