[Funding alert] After Katrina Kaif, Alia Bhatt invests in omnichannel lifestyle firm Nykaa
Omnichannel lifestyle retaileron Tuesday said Bollywood actress Alia Bhatt has made a personal investment in it through a secondary transaction for an undisclosed amount.
Nykaa was founded in 2012 by Falguni Nayar (former Managing Director at Kotak Mahindra Capital). Since its launch, Nykaa has been instrumental in shaping the beauty and lifestyle industry in India through its omni-channel reach and curated product offering. The platform follows an inventory-led model, and has its own private label in cosmetics and personal care segment.
Nykaa provides a curated range of beauty products for women and since then expanded to fashion and men's wellness and grooming.
Alia Bhatt (Image source: Twitter)
As an omnichannel lifestyle retailer, it claims to have over five million monthly active users and handles over 1.5 million orders a month, hawking over 1,500 brands and over 1.3 lakh products, available on its website, app, and stores.
Apart from the omnichannel presence, its products are sold across 70 stores.
While Nykaa Men offers beauty and grooming products, Nykaa Pro caters to all professional beauty needs with special access and offers, and Nykaa Beauty is its in-house beauty products offering cosmetics across lips, eyes, face and nails.
It also has skin and body care range apart from bath and body collection, naturals and fine fragrances.
Earlier this month, bollywood actress Katrina Kaif invested an undisclosed amount in the beauty and ecommerce platform.
In May 2020, Nykaa raised Rs 66.64 crore from its existing primary investor Steadview Capital. According to the filings with the Registrar of Companies, as accessed by YourStory, Steadview invested in an equity round, and has been allotted 1,09,986 Rs 10 shares, at a premium of Rs 6,049.
Reportedly, with this round of investment, Nykaa entered the startup unicorn club (companies that are valued at $1 billion or above).
(Disclaimer: Additional background information has been added to this PTI copy for context)