The latest investment of Katrina Kaif came via a secondary transaction. Notably, earlier in 2019, the Bollywood star had launched her beauty line on Nykaa (1), Kay Beauty. In May 2020, Nykaa turned a unicorn after securing 100 crore INR, 13 million USD from Steadview capital, and an existing investor.
While commenting on the development, Katrina Kaif stated that she is familiar with the growing brand equity of Nykaa and its market leadership. The next logical step is to become an investor of the beauty and e-commerce platform, Nykaa, to share its vision.
She further added that Nykaa had opened new avenues for women to celebrate and explore their unique beauty ideas.
Katrina Kaif to Enable Women to Be the Best Version of Themselves with kay Beauty
Falguni Nayar, the Founder, and CEO of Nykaa, while speaking about the association with Katrina Kaif over the years, stated that she admires her work ethic and understanding of beauty products.
Moreover, she has the vision to build her Kay Beauty into a brand that enables women to become the best version. Falguni added that she is a wonderful partner, and the team is delighted further to strengthen our relationship with her investment in Nykaa.
Earlier in May 2020, Nykaa has secured 100 Crore INR, or 13 million USD, from Steadview Capital and its existing investors. It brought the ticket to Nykaa to enter the unicorn club with already raising over 100 million USD in total funding.
As per reports, Nykaa had turned profitable in the fiscal year 2019 with a 2.3 crore INR profit while its revenue touched 1,159.32 crore INR. The eight-year-old beauty and e-commerce platform surge rapidly since its inception. Over the years, it has gained more than 5 million monthly active users, 70 stores across the country, and fulfilling more than 1.5 million orders a month.