Nykaa raises Rs 100 crore from TPG Growth
Nykaa, an online fashion and beauty products retailer, has raised Rs 100 crore from private equity firm TPG Growth Capital. The latest funding has raised the company’s valuation to Rs 5,027 crore.
Last year, Nykaa had raised $24 million in its Series D round.
A Nykaa spokesperson said, "In the upcoming financial year, Nykaa will focus on bringing in newer fashion brands on its website, and we will expand our offline retail footprint across the country up to 45 stores."
Nykaa was founded by former investment banker Falguni Nayar in 2012. Initially, the company launched as an online fashion retailer. Later on, it forayed into offline stores.
Currently, Nykaa has around 35 brick-and-mortar stores in India. In August 2018, Nykaa had launched Nykaa Design Studio, entering into the premium Indian designer wear.
Nykaa claims to have over 80,000 products across 700 brands, listed on its online portal and mobile app. The company sells make-up, skincare, hair care, fragrances, bath and body, luxury and wellness products for women and men.