After Katrina Kaif, Alia Bhatt Bets on Nykaa
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Bollywood actor Alia Bhatt has invested an undisclosed amount in omnichannel lifestyle retailer Nykaa through a secondary transaction. This is the second celebrity investment in Nykaa after actor Katrina Kaif’s investment in the beauty retailer last year.
Commenting on the development of Bhatt joining the Nykaa investor family, Falguni Nayar, founder and CEO of Nykaa, in a statement said, “Alia and I had a very interesting conversation about how both she and Nykaa were launched in 2012. She said the three reasons she wanted to invest in Nykaa were because it has Indian roots, it is founded by a woman and Nykaa is proof that the best in India can take on the best in the world. All of us at Nykaa are delighted to welcome her as an investor in the company.”
Despite the COVID-19 pandemic, Nykaa has managed to get investors on-board as it recently raised INR 100 crore ($13.6 million) from Steadview Capital increasing its valuation in the process to around $1.2 billion. It was valued at $750 million last year.
Nykaa was founded by Nayar in 2012 and has become one of India’s largest beauty retailers with over 1,500 brands and the business also runs a dedicated fashion e-commerce site.
Apart from the omnichannel presence, its products are sold across 70 stores. While Nykaa Men offers beauty and grooming products, Nykaa Pro caters to all professional beauty needs with special access and offers, and Nykaa Beauty is its in-house beauty products offering cosmetics across lips, eyes, face and nails. It also has skin and body care range apart from bath and body collection, naturals and fine fragrances.