Nykaa, the beauty e-commerce portal owned by former CEO and MD of Kotak Bank Falguni Nayar has raised Rs. 20 crores through private investors including HNIs and NRIs to boost the expansion plans of the brand in the omni-channel retail space, including mobile.
The capital raised is primarily to support Nykaa.com‘s approach to straddle the online and offline space in beauty and ecommerce industry. Nykaa plans to use these funds to enhance the brand’s marketing initiatives, introduce new technology and manage their extensive inventory which includes over 300 brands and 10,000 SKUs.
With projections to achieve 10x growth by fiscal 2015, Nykaa.com is also venturing into offline retailing space with their first store set to launch at the posh Terminal 3 – New Delhi Airport in mid-July. This store will give consumers access to the top luxury cosmetic brands along with the option of placing orders online through interactive screens and make-over tools.
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