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FREAKY FRIDAY: How Nykaa is creating a niche in the Indian online beauty sector?

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Nykaa.com, which has become a household name today, is one of the leading organisations in India that went digital in an untapped market like beauty and wellness for the very first time.

With an aim to become profitable by FY19, online beauty marketplace Nykaa has secured $11.32 Million (Rs 75 Crore) in a funding round at a valuation of USD 453 Million (Rs 3,000 Crore).

The latest funding round is part of USD 25.67 Million (Rs 170 Crore) funding round, in which the investment was done through a mix of primary and secondary transactions, according to a report in the Economic Times.

The round was led by existing investors which include Sunil Munjal’s family office; Marico’s Mariwala family office; Dalip Pathak, a special limited partner at Warburg Pincus; along with other existing and new high net worth individuals.

In FY18, Nykaa recorded USD 86.09 Million (Rs 570 Crore) in net revenue in FY18 from USD 32.32 Million (Rs 214 Crore) a year earlier.

Not only this, Nykaa also grabbed eyeballs for the capacity of bringing international brands into India.

Check out some of the tie-ups:

HUDA BEAUTY COLLECTION:

Nykaa introduced the namesake brand, Huda Beauty exclusively in India on January 19.

India’s largest multi-brand beauty platform, which has a portfolio of 850+ brands across makeup, skincare, haircare and wellness, Nykaa exclusively brought the international brand by Huda Kattan, Dubai-based beauty blogger and make-up pro in India.

Her strong character and authenticity have lent themselves to creating her signature products such as false eyelashes, liquid lipsticks and highlighters.

MOI COLLECTION:

Moi by Nykaa is a collection of fragrances that takes its name from the French word ‘moi’ translating to ‘me’. Designed in Paris, the collection is crafted as a fragrance wardrobe to offer you a scent for every mood.

To create this fragrance, Nykaa worked with French perfumer Jordi Fernandez who is an expert in a variety of fragrance genres that makes his style versatile and multifaceted. According to Jordi, ‘By visiting places, meeting people, and getting involved in the local culture, I discover a wealth of perfume ideas.’ Every fragrance crafted he crafts has its own unique personality, rich in flavour and depth, crafted with the finest ingredients.”

Frontrunner in bringing ‘Videshi’ brands to India…

Nykaa.com has been a pioneer in bringing K-beauty brands to India such as Faceshop, and Innisfree to name a few.

Name a skin problem, and K-Beauty (shorthand for South Korean beauty products) will offer a quick solution. Korean skincare is a great combination of quality ingredients merged with technology.

The Face Shop is a South Korea-based skincare and cosmetics manufacturer, retailer and a franchise business. It is a subsidiary of LG Household and Health Care of LG Corporation.

Not only this, the brainchild of Falguni Nayar is also responsible for catering global brands to national audiences.

BALMAIN COLLECTION:

L’Oréal Paris X Balmain Color Riche is the first limited-edition collection of 12 tailor-made designer lipsticks. Uncover edgy, matte shades encased within an exclusive pack, designed by Olivier Rousteing. 12 lip colours designed to embody three femininities: Safari, Rock and Couture.

The formula is infused with pure pigments and camellia oil to create our richest colour and most moisturizing matte finish.

GAGA HADID COLLECTION:

From her home base in NYC to her hometown in LA, the design and details of these three Maybelline makeup collections reveal the story of Gigi Hadid’s life as she sees it, one shade name at a time.

  • East Coast Glow Makeup
  • West Coast Glow Makeup
  • Jetsetter Travel Makeup Palette

The company began as an e-commerce site in 2012 and has since opened several physical stores too. With India moving towards a mobile-first society, they also wanted to ensure their digital campaigns were reaching customers on their preferred platforms, whether on a mobile browser or the Nykaa app.

In the growing online as well as offline space of ecommerce beauty products, Nykaa has been standing strong in its space.

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One Thought to “FREAKY FRIDAY: How Nykaa is creating a niche in the Indian online beauty sector?”

  1. […] Nykaa is now working on signing up new foreign brands such as HUDA Beauty among others. […]

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