Nykaa
Nykaa was founded by Falguni Nayar, in 2012 with a vision to create a comprehensive and convenient shopping experience for beauty enthusiasts. The company started as an online platform and later expanded to an omnichannel model in 2015.
The name "Nykaa" originated from the Sanskrit word "Nayaka," meaning one in the spotlight.
Nykaa's working model revolves around its user-friendly website and app, giving customers easy access to browse and purchase their preferred beauty products. The platform provides comprehensive product descriptions, expert reviews, and beauty tips, to help customers make well-informed decisions.
In 2020, Nykaa became the first Indian unicorn to be headed by a solo woman founder.
Over the years, Nykaa has raised over $215 million in funding across 15 rounds from marquee investors like Steadview Capital, Morgan Stanley, and Fidelity, among others.
In October 2021, FSN E-commerce Ventures, Nykaa’s parent company, opened up its IPO, raising more than Rs 5,000 crore. In November, the stock was listed at an 80% premium, making Nayar the richest self-made billionaire in the country.
Today, Nykaa has several brands under its wing—Nykaa Naturals, Nykaa Cosmetics, Kay Beauty, 20 Dresses, and others. Since 2019, it has also made several strategic acquisitions.
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Funding
[Weekly funding roundup Nov 9-15] VC inflows record a sharp rise
Thimmaya Poojary | November 15, 2024
The second week of November showed a sharp rise in venture capital funding compared to the previous week, however the overall number was still relatively modest.
News
Nykaa appoints ex-Myntra exec to strengthen its fashion vertical; incorporates new unit in GCC
Akshita Toshniwal | November 13, 2024
Nykaa has been focusing on expanding its GCC operations and leveraging global brand partnerships to drive its domestic apparel marketplace, Nykaa Fashion.
Daily Capsule
Nykaa sees 66% jump in Q2 profits; SoftBank eyes more AI bets
Team YS | November 13, 2024
Nykaa's net profit grew 66% to Rs 12.97 crore in Q2 FY25, helped by festive demand. SoftBank is placing strategic bets on AI while maintaining financial stability. Namdev Finvest empowers entrepreneurs and rural communities through specialised loans for MSMEs, e-rickshaws, and solar panels.
Beauty
Nykaa sees beauty leveraging quick commerce more; plans to cut delivery times
Akshita Toshniwal | November 12, 2024
Nykaa sees a higher mix from quick commerce channels for fast-moving categories, especially within its newer beauty brands like Dot &Key.
News
Nykaa profit rises 66% to Rs 13 Cr, revenue up 24% in Q2
Akshita Toshniwal | November 12, 2024
Beauty and personal care marketplace Nykaa witnessed strong growth in its beauty vertical and international business during the second quarter.
Daily Capsule
Indian investors hold on to crypto bets; Making Indian roads safer
Team YS | November 11, 2024
Chainalysis’ ‘Global Crypto Adoption Index’, published last month, says that India is leading the way in the global adoption of cryptocurrencies for the second consecutive year. And it is the young Indians who are setting the trend.
Ecommerce
Quick commerce in India: Market leaders & new entrants
Saniya Ahmad Khan | November 2, 2024
Discover the top players in India's booming quick commerce industry driving rapid delivery growth with new categories and tech innovation.
Opinion
Demystifying composability: A roadmap for Indian retailers
Prakash Gurumoorthy | November 1, 2024
In today's fast-paced digital landscape, Indian retailers must remain nimble and responsive to stay relevant. Composability equips businesses with the tools to adapt, grow, and succeed in the face of change.