Nykaa in talks with Softbank to raise ₹1,480 crores with a valuation of ₹5,930 crores

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Mumbai-based online fashion startup Nykaa is in early talks with Japan’s Softbank to raise around ₹1,110-1,480 crores ($150-200 million), according to people aware of the development.

If the funding comes through, it will mark the startup’s first foreign investment, having only raised capital from Indian funds and investors, so far. It will also take the startup’s valuation to around ₹5,190-5,930 crores ($700-800 million).

Nykaa was founded by former investment banker Falguni Nayar in 2012. It provides a multi-brand online platform offering a wide range of fashion and beauty products, across categories like hair, skin, personal care, wellness, and fragrance.

The startup claims to have more than one lakh products, across over 850 brands on its platform. It has also expanded its offline presence through 20 brick and mortar stores and the number of stores is expected to touch 50, in the next two years.

The beauty startup is also counting on its private label products across categories like nail paints, fragrance, shower gels, and make-up, to grow its business.

Nykaa last raised ₹113 crores from Lighthouse Advisor’s India Fund III, in a secondary deal, in September 2018.

Earlier in May 2018, Nykaa had raised ₹170 crores in a series D funding round from Sunil Munjal, Harsh Mariwala, and Dalip Pathak, according to Crunchbase.

Nykaa claims to have clocked ₹560 crores in revenues for the FY17-18, along with maintaining positive EBITDA for two consecutive quarters. It is expecting a 100% revenue growth in the current financial year.

Other players in the beauty e-commerce segment competing with Nykaa include Purplle, NewU, Avon, and The Body Shop, Iba Halal Care, among others.

Last month, cosmetics brand Iba Halal Care raised ₹21 crores in series A funding round from Addvantis.

According to a report by RedSeer, a research firm, Indian cosmetics industry categorised into skin care, hair care, oral care, fragrance, and colour cosmetics segment, is pegged at $6.5 billion and is expected to touch $20 billion by 2020, growing at a CAGR of 25%.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

15 killed in Mexico armed clashes

Mexico City, Oct 16 (IANS) At least 15 people were killed in a gunfight between Mexican military and armed...

India, US special forces hold joint military drill in Seattle

New Delhi, Oct 16 (IANS) A 45-member special forces team from the Indian Army has begun a 15-day joint military drill with US Special...

Facebook expands bug bounty programme for third-party apps

San Francisco, Oct 16 (IANS) Facebook has expanded its bug bounty programme for ethical hackers and security researchers to reward them for valid bug...

Twitter aims to restrict users, not world leaders like Trump

San Francisco, Oct 16 (IANS) Stating that world leaders are not above its policies "entirely," Twitter has decided to restrict how users can interact...

Tourists to fill up safety bond at Dudhwa National Park now

Lakhimpur, Oct 16 (IANS) Visitors to the Dudhwa National Park in the Terai region of Uttar Pradesh will now be required to fill up...
- Advertisement -

More Articles Like This