Nykaa, founded in 2012 by Falguni Nayar, started as a multi-brand online adorableness broker but has back developed to action articles through adaptable app and alike brick-and-mortar stores. Photo: Abhijit Bhatlekar/Mint
Mumbai: Nykaa, the online broker of appearance and adorableness products, is in aboriginal talks with Japan’s SoftBank Group Corp. to accession $150-200 million, according to two bodies acquainted of the development. The latest allotment round, if it goes through, will booty Nykaa’s appraisal to anywhere from $700 actor to $800 million. It will additionally be the aboriginal adopted advance into the company, which has so far aloft basic alone from Indian funds and investors.
SoftBank beneath to comment. Nykaa did not acknowledge to Mint’s query.
Nykaa, founded in 2012 by above advance broker Falguni Nayar, started as a multi-brand online adorableness broker but has back developed to action articles through adaptable app and alike brick-and-mortar stores. The aggregation claims to action added than 80,000 articles beyond 700 brands on its online portal. It additionally has about 20 offline food and expects to blow about 50 food aural the aing two years.
Often termed India’s Sephora (the French multi-brand cosmetics retailer), Nykaa sells make-up, skincare, beard care, fragrances, ablution and body, affluence and wellness articles for women and men.
The aggregation is now action big on its clandestine characterization articles in categories alignment from attach paints and fragrances to battery gels and make-up.
Nykaa, run by FSN Ecommerce Ventures Pvt. Ltd, aloft about ₹ 100 crore in 2016 from Max Ventures and Industries Ltd, the Munjal Family Office, Yogesh Mahansaria and Harsh Mariwala.
In 2015, the aggregation aloft ₹ 60 crore from TVS Capital.
In 2014, it aloft about ₹ 20 crore from several investors, as allotment of its aboriginal allotment round.
Before starting Nykaa, Nayar was managing administrator at calm advance coffer Kotak Mahindra Basic Co. Ltd.
For the year concluded March 2018, Nykaa acquaint acquirement of ₹ 570 crore, up from ₹ 214 crore in the antecedent year. The aggregation expects to added than bifold its acquirement in the accepted banking year.
In August, Mint appear that Nykaa had forayed into exceptional Indian artist abrasion with the barrage of Nykaa Design Studio.
According to a 2017 address by RedSeer Consulting, the $6.5 billion Indian cosmetics industry is estimated to abound to $20 billion by 2025 at a admixture anniversary advance amount of 25%.
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