|Type of business||Private|
Type of site
|Headquarters||Mumbai, Maharashtra, India|
|Key people||Falguni Nayar (CEO)|
|Revenue|| ₹ 1,860 crore |
(US$ 265.71 Million) (2020)
|Net income|| ₹ 278 crore |
(US$ 38,082,191) (2020)
|Native client(s) on||Android|
Nykaa is an Indian e-commerce company, founded by Falguni Nayar in 2012 and headquartered in Mumbai. It sells beauty, wellness and fashion products across websites, mobile apps and 76 offline stores. It is a unicorn startup, and as of 2020, was valued at ₹85 billion (US$1.2 billion).
It sells products which are manufactured in India as well as internationally. In 2015, the company expanded from online-only to an omnichannel model and began selling products apart from beauty. In 2020, it retails over 2,000 brands and 200,000 products across its platforms.
Falguni Nayar, a former managing director at Kotak Mahindra Capital Company, founded Nykaa in 2012. It was launched as an ecommerce portal curating a range of beauty and wellness products. The brand name Nykaa is derived from the Sanskrit word nayaka, meaning ‘one in the spotlight’.
In 2018, the company launched Nykaa man, India's first multi-brand ecommerce store for men’s grooming. The company expanded into fashion by launching Nykaa Design Studio, which was renamed to Nykaa Fashion.
In 2020, Nykaa launched Nykaa PRO. It is a premium membership program that provides users special access to professional beauty products and offers via the Nykaa App. In Dec 2020, Nykaa Fashion launched its first store in Delhi, making the fashion business omnichannel.
Since 2012, Nykaa has raised money through multiple rounds of funding. In March 2020, it raised ₹100 crore (US$14 million) from Steadview Capital, thus making it a unicorn startup valued at ₹85 billion (US$1.2 billion). This was followed by another tranche of ₹67 crore (US$9.4 million) funding by Steadview in May 2020.
In October 2020, Bollywood actresses Alia Bhatt and Katrina Kaif invested undisclosed amounts in the company through secondary funding. In November later that year, global asset management firm Fidelity invested in the company through a secondary sale of shares from an existing equity investor.
Operations and services
Nykaa follows an inventory-based model with warehouses in Mumbai, New Delhi, Pune, Haryana, Kolkata and Bangalore. In 2020, in addition to its primary ecommerce business, it has an offline presence via 76 brick-and-mortar stores across the country. It claims to have over 200,000 products across 2,000 brands.
It has three offline store formats called Nykaa Luxe, Nykaa On Trend and Nykaa beauty Kiosks. The Luxe format features international luxury beauty brands such as Huda Beauty, MAC, Dior, and Givenchy along with Nykaa Beauty, the in-house collection of beauty products. The Nykaa On Trend format has products curated by category basis their popularity. In India, Nykaa is the only retailer that sells international brands like e.l.f, Charlotte Tilbury, Tonymoly, Becca, Sigma, Limecrime, Dermalogica, and Murad.
House of brands
Nykaa has a series of in-house brands within beauty and fashion. Some of them include:
- Nykaa House of Brands – Nykaa Naturals, Nykaa Cosmetics, Kay Beauty
- Nykaa Fashion – Nykd by Nykaa, 20 Dresses, RSVP, Mondano, Likha, Pipa Bella
In 2015, Nykaa launched its collection of in-house beauty products via Nykaa Cosmetics and later expanded it across categories of Eyes, Nails, Face, Lips. The Nykaa Naturals portfolio is a collection of skincare and personal care products. In early 2019, the brand launched its Wanderlust Bath & Body collection, and later in the year introduced a beauty line with the iconic designer Masaba Gupta, Masaba by Nykaa.
Partnerships and acquisitions
In 2021, Nykaa Fashion acquired the India fashion jewellery brand, Pipa Bella.
Security and privacy issues
On 18 November 2019, an API flaw was detected in Nykaa Fashion’s internal systems that allowed a potential attacker to log in to any user account if the attacker had access to the user's email ID. This could potentially have put users' data at risk of being hijacked. Consequently, the company fixed the security vulnerability.
Nykaa also hosts beauty and fashion content via Nykaa TV, its YouTube channel. It contains informational videos about beauty, cosmetics, and styling. Some of its notable campaigns include #BreakTheHashtag (with Tapsee Pannu), #WhatMakesYourBeautiful (with acid attack survivor and activist Laxmi Agarwal), Beauty in Her Story (in collaboration with Netflix), web series Tinderella, Khoj (a Mother’s Day film), and Rakshak (a Raksha Bandhan special film).
Since 2018, it has been hosting an online community of beauty and fashion enthusiasts via its Nykaa Network. In 2020, it launched a web miniseries called The Beauty Bar. Nykaa also hosts Beauty Book, a beauty and fashion magazine.
Nykaa extends social and financial help to causes such as education, health, women’s rights and empowerment, rural development, and disaster management. Some of its notable CSR partnerships are with SPARSH India, CARE International Confederation, PRIDE, Milaap, Nanhi Kali, Make a Wish Foundation, Benefactory, Sneha, and PM CARES Fund.
In 2019, Nykaa Fashion launched ‘The Power List’ in partnership with Vogue India.
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