Nykaa is an Indian multi-brand 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.
Video Nykaa
History
Nykaa was founded in 2012 by Falguni Nayar, a former Managing Director of Kotak Mahindra Capital Company. The company raised money through multiple rounds of funding. In July 2014, it raised INR 20 crore in funding from private investors and raised around INR 60 crore in Series B funding in October 2015 led by TVS Capital. Nykaa closed its last round of funding by raising INR 104.3 crores led by Max I India.
Maps Nykaa
Operations & Services
Nykaa is an e-commerce website offering beauty and wellness products from all the leading brands such as Lakmé, Kaya Skin Clinic, L'Oréal Paris and many more. Nykaa follows an inventory based model with warehouses in Mumbai, New Delhi and Bangalore. Along with this Nykaa as two offline store formats - Nykaa Luxe and Nykaa On Trend. The Luxe format features Indian and international luxury beauty brands along with Nykaa Beauty, the in-house collection of beauty products. The On Trend format is the first of its kind in the market with products curated by category basis their popularity. In March 2016, Nykaa introduced private labeled products in the bath and body care category.
Private Label
Nykaa launched its collection of in-house beauty products in 2015 with nail enamels. The collection now includes lipsticks, eye & face products, along with bath & body and essential oils.
The Team
Adwaita Nayar, Falguni Nayar's daughter, is the Chief Operating Officer of the offline retail chain. She's an alumnus of Harvard Business School. At the helm of Nykaa's private label is Reena Chabbra who has spent over two decades in the beauty industry in India. She worked previously with Lakmé and Kaya Skin Clinic.
Partnerships
Nykaa collaborated with Femina to host the 'Nykaa.com Femina Beauty Awards' in 2015 and 2016. The award function was created to highlight the best products and brands in the hair, makeup, fragrance, and skin categories in the Indian market.
Nykaa has raised funds for Project Nanhi Kali on the occasion of International Women's Day, 2015. Project Nanhi Kali is an Indian NGO for girl child education that provides primary education to underprivileged girl children in India.
Awards and Events
Business Today featured Nykaa's founder Falguni Nayar in The Most Powerful Women in Business 2017. Nayar also won the 'Woman Ahead' award at the Economic Times Startup Awards 2017.
Nykaa has been a partner with Femina since 2014 in presenting Femina Beauty Awards for beauty products based on votes from Nykaa's customers and Femina's readers.
See also
- E-commerce in India
- Online shopping
References
External links
- Nykaa.com
Source of the article : Wikipedia
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