Hybrid nanostructures combining nanowires with quantum dots promote the development of nanoelectronic and nanophotonic devices with integrated functionalities. In this work, we present a complex nanostructure with multishell quantum dots grown on nanowires. 1–4 shells of Stranski-Krastanov InAs quantum dots are grown on the sidewalls of GaAs nanowires by metal organic chemical vapor deposition. Different dot shells are separated by 8 nm GaAs spacer shells. With increasing the number of shells, the quantum dots become sparser and tend to align in one array, which is caused by the shrinkage of facets on which dots prefer to grow as well as the strain fields produced by the lower set of dots which influences the migration of In adatoms. The size of quantum dots increases with the increase of shell number due to enhanced strain fields coupling. The spectra of multishell dots exhibit multiwavelength emission, and each peak corresponds to a dot shell. This hybrid structure may serve as a promising element in nanowire intermediate band solar cells, infrared nanolasers, and photodetectors.