Nykaa, India’s leading beauty and lifestyle omnichannel retailer, has unveiled its first outlet in the cultural capital of Kerala, Thrissur. This launch takes Nykaa On-Trend store count to a total of 3 in Kerala, including Nykaa On-Trend in Thrissur at the Shobha City Mall; Nykaa On-Trend, Lulu International Shopping Mall store, Kochi; and Nykaa Beauty’s exclusive kiosk in Mall of Travancore, Trivandrum.
By opening in Thrissur, the total count of Nykaa On-Trend stores across India has risen to 32.
On the occasion of the launch, Anchit Nayar, CEO – Nykaa Retail, said, “Intrigued by Thrissur’s culture, we are here to introduce our customers to the quintessential Nykaa experience. The Nykaa On-Trend store houses a selection of the best-selling/ trending beauty & skincare products from Nykaa.com and we are elated to now extend this unique offering to Thrissur. Customer satisfaction & safety being paramount, we have also implemented numerous hygiene protocols to safeguard the health of our customers and employees.”
Earlier this year, the Omnichannel lifestyle retailer had completed a secondary placement that facilitated partial exit for its early investors as well as an exit for employee ESOPs. This transaction was led by Boston-based asset management company Fidelity Management & Research Company, LLC, which made an undisclosed investment in the beauty and fashion unicorn.
In March, the company had also raised Rs 166 crores from Steadview Capital through a primary transaction, and which led to a valuation of over $1.2 billion.
Nykaa recorded revenue of Rs 1,860 crore for the year ending March 2020 with EBIDTA of Rs 94 crore.