Nykaa

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Nykaa
Private
IndustryInternet
Founded2012
FounderFalguni Nayar[1]
HeadquartersMumbai, Maharashtra, India
Area served
India
Key people
Adwaita Nayar
Reena Chabbra
Hitesh Malhotra
ServicesE-commerce
(Online shopping)
WebsiteNykaa.com

Nykaa is a Mumbai-based multi-brand beauty retailer selling cosmetic and wellness products. Founded by Falguni Nayar, Nykaa began as an online retailer in April 2012 and opened its first physical retail store at T3 Terminal, Indira Gandhi International Airport in November 2015.[2]

History[edit]

The founder of Nykaa, Falguni Nayar is a former Managing Director of Kotak Mahindra Capital Company.[3] The company raised money through multiple rounds of funding. In July 2014, it raised INR 20 crore in funding from private investors and raised around INR 60 crore in Series B funding in October 2015 led by TVS Capital. Nykaa closed its last round of funding by raising INR 104.3 crores led by Max I India post which VC firm Max Ventures and Industries acquired a 2% stake in online cosmetic and wellness brand.[4]

Operations and services[edit]

Nykaa is an e-commerce website offering beauty and wellness products from all the leading brands such as Lakmé, Kaya Skin Clinic, L'Oréal Paris and many more. [5][6] Nykaa follows an inventory based model with warehouses in Mumbai, New Delhi, and Bangalore. Nykaa has its offline presence in 35 stores and expanding. It claims to have over 850+ curated brands and 35,000 products. Nykaa’s core target audience is the 22-35 age group.[7] Along with this Nykaa has two offline store formats – Nykaa Luxe and Nykaa On Trend. The Luxe format features Indian and international luxury beauty brands along with Nykaa Beauty, the in-house collection of beauty products. The On Trend format is the first of its kind in the market with products curated by category basis their popularity.[8] In March 2016, Nykaa introduced private labeled products in the bath and body care category.[9]

Private label[edit]

Nykaa launched its collection of in-house beauty products in 2015 with nail enamels.[10]

Team[edit]

Adwaita Nayar, Falguni Nayar's daughter, is the Chief Operating Officer of the offline retail chain. She's an alumnus of Harvard Business School. At the helm of Nykaa’s private label is Reena Chabbra who has spent over two decades in the beauty industry in India. She worked previously with Lakmé and Kaya Skin Clinic.[11]

Partnerships[edit]

Nykaa collaborated with Femina to host the ‘Nykaa.com Femina Beauty Awards’ in 2015 and 2016. The award function was created to highlight the best products and brands in the hair, makeup, fragrance, and skin categories in the Indian market.[12][13]

Corporate social responsibility[edit]

Nykaa raised funds for Project Nanhi Kali on International Women’s Day, 2015. Project Nanhi Kali is an Indian NGO that provides primary education for underprivileged girls in India. [14]

Awards and events[edit]

Business Today featured Nykaa's founder Falguni Nayar in The Most Powerful Women in Business 2017.[15] Nayar also won the ‘Woman Ahead’ award at the Economic Times Startup Awards 2017. [16]

Nykaa has been a partner with Femina since 2014 in presenting Femina Beauty Awards for beauty products based on votes from Nykaa’s customers and Femina's readers. [17]

See also[edit]

References[edit]

  1. ^ "Shades in Beauty Space: Falguni Nayar". Economictimes.indiatimes.com. Retrieved 7 March 2013.
  2. ^ "Nykaa Story". Nykaa.com. Retrieved 15 June 2015.
  3. ^ "Falguni Nayar: The beauty entrepreneur". Livemint. 24 March 2017.
  4. ^ "Max Ventures and Industries acquires 2% stake in Nykaa". Timesofindia.indiatimes.com.
  5. ^ "Make-Up Haul: The Best Products That Are Only Available At Nykaa". Idiva.com.
  6. ^ "Nykaa decks up to woo Indian beauty market with more products and services". Economictimes.indiatimes.com.
  7. ^ "Nykaa And The Art Of Retailing: Trending Online Beauty With 10K Orders A Day". Inc42.com. 29 May 2017. Retrieved 29 June 2018.
  8. ^ "Nykaa to expand offline presence". Deccanherald.com.
  9. ^ Verma, Shrutika (9 March 2016). "Nykaa looks to raise Rs 100 crore, expand private label offerings". Livemint.com. Retrieved 29 June 2018.
  10. ^ "Nykaa expects private label revenue contribution to double in 2017-18". Livemint.com.
  11. ^ "Falguni Nayar: The beauty entrepreneur". Livemint.com.
  12. ^ "Femina Beauty Awards". Femina.in.
  13. ^ "Nykaa and Femina host the Nykaa Femina Beauty Awards in Mumbai". Timesofindia.indiatimes.com.
  14. ^ "How Nykaa used Digital Marketing". Digiperform.com.
  15. ^ "The Most Powerful Women In Business 2017". Businesstoday.in. Retrieved 27 October 2017.
  16. ^ "ET Startup Awards 2017: ET-Facebook woman ahead award goes to Falguni Nayar of Nykaa". Economictimes.indiatimes.com.
  17. ^ "The third edition of Nykaa.com Femina Beauty Awards 2017". Timesofindia.indiatimes.com.

External links[edit]