Nykaa.com is an eCommerce portal that retails over 300 international branded beauty and wellness products for men and women. In addition to being a product retail platform, it strives to create engaging beauty and wellness related content through its e-magazine, The Beauty Book.
Angel funded by renowned investors such as Zia Mody and Sanjay Nayar, the company has grown 600 per cent in 12 months and its customer acquisition cost has reduced by a third, in nine months. In the next three years, it aims to position itself as a brand synonymous with beauty in the Indian Market.
Prior to starting Nykaa, Falguni Nayar was Managing Director of Kotak Investment Banking. The company recently raised US $9 million in private equity from Chennai-based TVS Capital and other investors.
Its virtual makeover tool allows customers to try before they buy.
It adopts a three-pronged strategy, ecommerce, omni-channel and private labelling, to accelerate growth and enhance brand recall. For example, its physical store in Delhi Airport allows customers to experience online browsing and shopping through a touch screen.
It hosted the Nykaa.com Femina Beauty Awards, an annual event celebrating the best beauty products across 35 categories. The event witnessed participation from celebrities and businesspeople such as Sonam Kapoor, Huma Qureshi, Kirthiga Reddy (MD, Facebook India) and Isha and Akash Ambani.