Buy Nykaa Cosmetics Products Online
Description
Nykaa is an Indian e-commerce company headquartered in Mumbai. It sells beauty, wellness and fashion products through its website, mobile app, and over 100 physical stores.[4] In 2020, it became the first Indian unicorn startup headed by a woman.[5]
Nykaa 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. As of 2020, it retails over 2,000 brands and 200,000 products across its platforms.
History[edit]
Logo used in the initial years.
In April 2012, Falguni Nayar, a former managing director at Kotak Mahindra Capital Company, founded Nykaa[6] as an ecommerce portal curating a range of beauty and wellness products.[7][8] The brand name Nykaa is derived from the Sanskrit word nayaka, meaning actress or "one in the spotlight".[9] The website was first launched around Diwali 2012, and was available commercially in 2013.[6]
In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products.[10][11]
In 2018, Nykaa launched Nykaa PRO. It is a premium membership program that provides users special access to professional beauty products and offers on the Nykaa app.[12] In 2018, the company also launched an online beauty forum called Nykaa Network.[13]
In March 2020, Nykaa raised ₹100 crore (US$13 million) from Steadview Capital at a valuation of US$1.2 billion, making it a unicorn startup.[14][15][16][17] This was followed by another tranche of ₹67 crore (US$8.4 million) funding by Steadview in May 2020.[18]
In October 2020, the company launched Nykaa Man, India's first multi-brand ecommerce store for men's grooming.[19][20] The company expanded into fashion by launching Nykaa Design Studio, which was renamed to Nykaa Fashion.
In November 2020, global asset management firm Fidelity invested in the company through a secondary sale of shares from an existing equity investor.[21]
In December 2020, Nykaa Fashion launched its first store in Delhi, making the fashion business omnichannel.[22][23]
Nykaa opened its initial public offering (IPO) on 28 October 2021.[24] The IPO raised ₹5,352 crore (US$670 million) at a valuation of US$7.4 billion. Nykaa was publicly listed on the NSE and BSE on 10 November 2021, and its price rose by 89.2% on opening day, valuing the company at nearly US$13 billion.[25] Founder Falguni Nayar, who owned a 53.5% stake in the company, became India's wealthiest self-made female billionaire on the listing day.[26]
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