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Nykaa plans to open 30 new outlets
Beauty e-tailer Nykaa.com on Thursday announced plans to open 30 new physical stores by 2020 in addition to four existing stores here. The e-tailer is looking to raise Rs 82 crore to fund its expansion plans.
Hyderabad: Beauty e-tailer Nykaa.com on Thursday announced plans to open 30 new physical stores by 2020 in addition to four existing stores here. The e-tailer is looking to raise Rs 82 crore to fund its expansion plans.
“The focus for Nykaa has always been to offer our customers the best beauty shopping experience. This has been achieved today through a wide assortment of innovative and performance driven brands, strong technology platforms, efficient logistics and customer engagement through our content offerings,” said Falguni Nayar, founder and CEO, Nykaa.com.
Founded in 2012 by FSN E-Commerce Ventures Pvt Ltd, the company has a robust content offering with its blog and social media platforms, a wide menu of over 450 international and Indian brands. The multi-brand portal has seen four-fold growth over the past year, and is currently on a net revenue run rate in excess of Rs 250 crore.
Nykaa recently executed the exclusive online launch of L'Oreal Group NYX Cosmetics in India, the most successful e-commerce launch for the brand globally. The company is also exploring options to launch its own private label and working on the business plans.
