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Nykaa.com raises $9.5 million from multiple investors

  • Online beauty and
    wellness retailer Nykaa.com has raised $9.5 million from multiple investors,
    including the family offices of Marico Industries chairman Harsh Mariwala and
    Hexaware Technologies Ltd chairman Atul Nishar.
  •  
    • Online beauty and
      wellness retailer Nykaa.com has raised $9.5 million from multiple investors,
      including the family offices of Marico Industries chairman Harsh Mariwala and
      Hexaware Technologies Ltd chairman Atul Nishar.
    •  

    •  
    • Falguni Nayar,
      founder of FSN E-Commerce Ventures Pvt Ltd, that runs Nykaa.com, confirmed the
      transaction but did not reveal the amount of stake bought by the investors, the
      Mint reported.
    •  
    • The latest equity
      investment would be used to launch a private label, increase marketing
      activities and grow the team, Nayar, who is chief executive officer, Nykaa.com,
      said.
    •  
    • She said the firm is
      not chasing valuations but it is adopting a conservative approach.
    •  
    • Nayar said the firm
      is positioning as retailer-cum-private label company.
    •  
    • Dalip Pathak, who
      established the India
      business for private equity firm Warburg Pincus, LLC in 1994, has also invested
      in Nykaa.com in his personal capacity, along with Michael Carlos, former
      president of flavours and fragrance company Givaudan of Switzerland.
    •  
    • Nykaa.com’s fund
      raising comes at a time when investors have begun talking about the need for
      these start-ups to focus on making money, after they pumped in more than $8
      billion into e-commerce companies since the start of 2014.
    •  
    • A person close to the
      development said the retailer has sold around 20% of its stake.
    •  
    • The Series B funding
      was led by the private equity arm of TVS Group. Investment company Techpro
      Ventures Pvt Ltd, too, participated.
    •  
    • Nykaa, which hosts
      over 350 brands and 35,000 products, claims it has sold 1.25 million products
      to date, with over 4 million site visitors every month.
    •  
    • Nykaa.com plans to
      increase its gross merchandise value five-fold in the next financial year,
      Nayar said.
    •  
    • As part of Nykaa.com’s
      omni-channel strategy, the firm has plans to open three destination stores in Delhi, Mumbai and
      Bengaluru.
    •  
    • Nayar said the firm
      will start 20 more such stores in the coming years.
    •  
    • Set up in 2012 by
      Nayar, the former managing director of Kotak Mahindra Capital Investment
      Banking, along with her husband Sanjay Nayar, chief executive at KKR India,
      Nykaa.com employs 150 people.

     

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