“Nykaa’s Glamorous IPO Proposal: A Journey from E-Commerce to Unicorn Status”
Among the myriad of e-commerce platforms launched in India, Nykaa has carved a niche for itself as a premier destination for beauty and wellness products. Founded in 2012 by Falguni Nayar, Nykaa began as a curated e-commerce portal dedicated to beauty and wellness, addressing the demand for a one-stop shop for these products.
Featuring over 1,200 global brands, Nykaa’s offerings span skincare, beauty, fashion, health supplements, and hair care. The acquisition of 20Dresses in 2019 and the introduction of over 400 in-house curated products have expanded Nykaa’s portfolio into fashion, accessories, and beauty segments, adding diverse revenue streams to its business model.
Nykaa’s focus on beauty and fashion has established it as a leading name in the market, serving as a go-to platform for customers seeking both high-end and luxury brands. The platform charges a commission on sales and has grown its presence with 68 offline stores across 20 Indian cities, complemented by over 55 million monthly website visits.
In April 2020, Nykaa achieved unicorn status with a $1.2 billion valuation, following a $13.6 million Series F funding round led by Steadview Capital. The company has raised a total of $145.9 million from notable investors including TPG Growth, Sunil Munjal, Fidelity Management and Research Co., TVS Shriram Growth Fund, Lighthouse India Fund III, Zia Mody, and celebrities like Alia Bhatt and Katrina Kaif. Internationally, Nykaa has made headlines with partnerships featuring Gigi Hadid, Huda Kattan, and Millie Bobby Brown.
Nykaa is now preparing for a major leap, planning to go public either through an Indian listing or an international share sale at a valuation of $3 billion. The company aims to raise at least $500 million with the support of Kotak Mahindra Capital Co. and Morgan Stanley. The future looks promising for Nykaa, with new ventures into men’s grooming via Nykaa Men, and plans to expand through multiple kiosks and pop-up stores across India.
Discover your favorite local and international products at Nykaa, or download the app on Android or iOS.