Nykaa is currently one of the top online beauty brands. It is a Mumbai-based brand of beauty retailer selling cosmetic and wellness products. Founded by Falguni Nayar, Nykaa began as an online retailer in April 2012 and opened its first physical retail store at T3 Terminal, Indira Gandhi International Airport, in November 2015. The company is creating wonders and recently raised a huge sum from Steadview Capital.
Nykaa – On a rising path
Online beauty has turned omnichannel lifestyle retailer Nykaa on Tuesday, March 31, announced that it had raised a huge amount of Rs 100 crore from its existing primary investor Steadview Capital. During the previous year, Nykaa had raised Rs 100 crore from the Singapore-based TPG Growth IV SF. This was soon after it had already acquired fashion styling and ecommerce platform TwentyDresses.
Just prior to that, in September 2018, Nykaa had also raised Rs 113 crore from the Lighthouse India Fund III, an affiliate of Lighthouse Advisors, and another Rs 160 crore through primary and secondary shares sale. Since its launch by Falguni (former Managing Director at Kotak Mahindra Capital) in 2012, Nykaa has been instrumental in shaping the beauty and lifestyle industry in India through its omnichannel reach and curated product offering. The platform follows an inventory-led model and has its own private label in cosmetics and personal care segments.
In December last year, Nykaa reported that it had recovered from its losses, making a profit of Rs 2.32 crore. Since its launch by Falguni (former Managing Director at Kotak Mahindra Capital) in 2012, Nykaa has been instrumental in shaping the beauty and lifestyle industry in India through its omnichannel reach and curated product offering. The platform follows an inventory-led model and has its own private label in the cosmetics and personal care segment. In December last year, Nykaa reported that it had recovered from its losses, making a profit of Rs 2.32 crore.
