Beauty Retailer Nykaa.com Closes Rs 165 Cr in Its Series D Investment Round
This round includes both primary investment and secondary exit of some early stage investors. Importantly many of the early stage investors including Sunil Kant Munjal, Chairman, Hero Corporate Service P Ltd, Family Offices of Harsh Mariwala and Dalip Pathak, private equity veteran has reinvested in this round amongst others.
Nykaa, India’s leading beauty retailer has closed its series D investment round of Rs.165 crores. This round includes both primary investment and secondary exit of some early stage investors. Importantly many of the early stage investors including Sunil Kant Munjal, Chairman, Hero Corporate Service P Ltd, Family Offices of Harsh Mariwala and Dalip Pathak, private equity veteran has reinvested in this round amongst others.
The funding will help to fund the growth capital as well as expand the retail footprint.
For the financial year 2017-18, Nykaa reported a net revenue of Rs 570 crores as compared to Rs 214 crore for FY 2016-17. Nykaa is continuing to see strong year on year growth and is expected to be profitable in FY ‘19.
Since its launch in 2012, Nykaa has been committed to offering its customers the best of beauty from India as well as the world. The retailer now offers over 850 brands and 100,000 products. By bringing brands like M.A.C, Bobbi Brown, Clinique, Estee Lauder and Smashbox Cosmetics online, it was the first to make luxury beauty available to its customers and today the luxury vertical accounts for 15% of total revenue. Nykaa was also the first to introduce cult beauty brands like Huda Beauty, Wet n Wild and NYX Cosmetics to the Indian market. Keeping a pulse on global beauty trends Nykaa leads the Korean Beauty conversation with launch of brands like The Face Shop, It’s Skin and Innisfree, as well as an exclusive collection of Indian-inspired Dear Packer sheet masks.
Since 2015, Nykaa has taken an Omni channel approach to beauty retail, opening stores across the country. Nykaa currently has 17 stores in India in two formats - Nykaa Luxe and Nykaa On Trend. The On Trend stores offer a unique curatorial experience featuring bestselling products chosen from over 100 beauty brands, while the Luxe format focuses on the complete offering from the prestigious beauty brands. Nykaa recently opened its flagship Nykaa Luxe store at DLF Chanakyapuri, New Delhi, featuring over 50 luxury brands across 2500 sqft of beautifully styled space. Nykaa aims to open 55 stores by March 2019.
With Nykaa Beauty, its in-house portfolio of beauty product, Nykaa now offers over 400 SKUs across cosmetics, naturals, bath & body and fragrances. Each product line is based on identifying and understanding evolving consumer trends and creating a strong product line-up. The focus of this collection is to deliver innovative and high-quality products that result in customer delight.
"The focus of Nykaa has always been customer centricity resting on curation, content and convenience. Advice, education and conversations with our customers are key elements of Nykaa’s philosophy and we have recently launched Nykaa Network to build on our consumer centricity. We offer the best assortment and information needed to make the right choice. Through efficient technology and logistics, along with our omni-channel model we make sure we deliver the best shopping experience to every customer," says Falguni Nayar, Founder & CEO, Nykaa.com.
Nykaa has built a strong customer connect in the past 6 years with over 4 million social media followers and robust content on its YouTube channel Nykaa TV and Beauty Book blog. Through campaigns like ‘Break The Hashtag’ with Taapsee Pannu and the ‘Haseen Tu, Haseen Din’ directed by Konkana Sen, Nykaa has championed women’s empowerment encouraging every woman to reach for their dreams.
Other Indian beauty ecommerce websites that are leading the space with a focus exclusively on beauty and wellness products are NewU and Purplle among others.
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