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Home Beauty Products

TPG Growth invests in splendor merchandise e-tailer Nykaa

Tara Mack by Tara Mack
July 27, 2019
in Beauty Products
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Beauty e-tailer Nykaa has raised Rs a hundred crore ($14.Four million) in a clean round of investment from US-primarily based private fairness company TPG Growth.
Nykaa will use the cash especially to introduce other splendor brands, make bigger its physical retail shops throughout the country and build its e-commerce enterprise at the internet site and app, an agency statement said.
The company recently launched Nykaa Man, its men’s grooming business, and Nykaa Pro, a portal for expert splendor purchasers. It is also increasing into the fashion business and has mounted with a new website and app supplying over a hundred and fifty brands.
“As we look for new ways to serve our clients via tasks like physical retail, Nykaa Man and Nykaa Fashion, our increase momentum will continue to remain robust inside the coming years,” said Falguni Nayar, founder and leader executive at Nykaa.Com.
Run via FSN E-Commerce Ventures Pvt. Ltd, Nykaa become founded in 2012 by funding-banker-grew to become entrepreneur Nayar, who turned into a former coping with director at Kotak Mahindra Capital. The online market sells merchandise across classes ranging from skincare, hair care, fragrances, bathtub and body, and comfort products for each men and women.

 


“With its omnichannel presence, distinctive brand partnerships, excessive client engagement and properly-curated product strains, Nykaa has emerged as a disruptive force inside the Indian splendor panorama in India,” stated Akshay Tanna on behalf of TPG Growth.
Financial services firm Avendus Capital was the adviser to Nykaa at the transaction.
Nykaa
For the financial yr 2017-18, the beauty e-tailer pronounced net sales of Rs 570 crore as compared to Rs 214 crore within the previous financial. It did no longer divulge earnings and loss figures however claims that it’ll turn profitable inside the contemporary monetary 12 months.
Since 2015, the firm has been operating on an omnichannel model and presently has 17 stores throughout the usa in two formats — Nykaa Luxe and Nykaa On Trend. The corporation also gives its very own in-house splendor products.
Nykaa has been increasing its offline presence in the u. S. And it pursuits to open fifty-five stores through March subsequent year. It claims to provide over 850 brands and a hundred,000 products.
With manufacturers like M.A.C, Bobbi Brown, Clinique, Estee Lauder, and Smashbox Cosmetics on the net platform, the luxury vertical debts for 15% of Nykaa’s total sales.
It raised capital from mid-market personal fairness company Lighthouse remaining September, paving the way for existing investor TVS Capital Funds to exit.
In May 2018, it closed its Series D round of funding at Rs a hundred sixty-five crore ($24 million), receiving money from its existing buyers including Hero Group’s chairman Sunil Munjal, the own family places of work of consumer goods maker Marico’s Harsh Mariwala and personal fairness investor Warburg Pincus.
TPG
The worldwide opportunity asset control firm entered India thru Newbridge Capital, its Asian arm, in 2002. It made its first funding in India the following year while it subsidized drugmaker Matrix Laboratories. In 2006, TPG merged Newbridge with itself and started investing in India directly out of its worldwide price range.
The PE firm’s India play is dominated with the aid of TPG Growth, which makes boom-fairness bets or invests in mid-market businesses. TPG Growth has backed digital payments company AGS Transact, eyewear store Lenskart, shoe maker Campus and on line ticketing business enterprise BookMyShow, among others, in India.
It has also installation a healthcare funding platform, referred to as Asia Healthcare Holdings, which has received funding from Singapore nation funding company Temasek Holdings.

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