Home Latest News Online retailer Nykaa.com to raise Rs 60-100 cr

Online retailer Nykaa.com to raise Rs 60-100 cr

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Online beauty retailer is planning to raise Rs 60-100 crore for marketing and setting up warehouses even as it focuses on opening more retail outlets to deepen its footprint.

Online retailer Nykaa.com to raise Rs 60-100 cr
Nykaa.com has over 400 brands and 40,000 products covering make-up, skincare, hair care, fragrances, personal care and luxury products which are delivered across 900 cities in India

According to a report in PTI: “We plan to raise another Rs 60 -100 crore from private sources…majority of investment will be into marketing to build the brand, warehouses and also on technology to enable more number of shoppers to shop simultaneously on the portal,” Founder and CEO, Nykaa.com, said.

The company had raised $9.5 million from private equity firm TVS Capital last year. To expand its offline presence, the former investment banker said the company plans to open 30 stores in 30 cities by 2020.

“We shall soon open three more stores — two in Mumbai and one in Bengaluru,” she said, adding that currently the company has one outlet in Delhi.

She further said the company has three warehouses in Mumbai, Delhi and Bengaluru. “We have plans to open another warehouse at Kolkata,” Nayar said.

Noting that Indian customers have embraced online shopping, she said there are about 85-90 million online shoppers at present, out of which about 40 million are women.

“There are five million people who visit the company’s portal every month while there are about 1.5 million customers who have signed up with Nykaa.com,” she said.

Nykaa.com has over 400 brands and 40,000 products covering make-up, skincare, hair care, fragrances, personal care and luxury products which are delivered across 900 cities in India.

Some of the key beauty brands available on Nykaa.com include L’Oreal, Maybelline, Lakme, Forest Essentials, Kama, Kiehls , Lancome, La Roche Posay, Inglot, Makeup Revolution, Vichy and Avene.

“The company shall endeavour to bring in the best of beauty products from across the globe, including Korea and Israel, to the Indian customers,” she said.

BRAND HISTORY

Nykaa is an e-commerce company founded in 2012 by Falguni Nayar. Headquartered at Mumbai, Maharashtra, it operates only in India. In 2014, Nykaa has launched its offline retail store at T3, IGI Airport, New Delhi. Nykaa.com sells over 300 brands and 20,000 products and ships to more than 900 cities across the country to almost 9,000 zip codes. The brand allows payment methods such as cash on delivery, credit or debit card transactions, net banking, and PayU Wallet.

Falguni Nayar was the former managing Director Of Kotak Mahindra Capital Company. The word Nykaa is derived from the Sanskrit word Nayaka that means actress or one in the spotlight. In two and-a-half years, Nykaa.com has reached to half a million customers to whom it provides various brands and also advice, updates and expert tips.