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Nykaa is an Indian e-commerce company, founded by Falguni Nayar in 2012 and headquartered in Mumbai. It sells beauty, wellness and fashion products across websites, mobile apps and 100+ offline stores. In 2020, it became the first Indian unicorn startup headed by a woman.
Nykaa sells products which are manufactured in India as well as internationally. In 2015, the company expanded from online-only to an omnichannel model and began selling products apart from beauty. As of 2020, it retails over 2,000 brands and 200,000 products across its platforms.
Falguni Nayar, a former Managing Director at Kotak Mahindra Capital Company, founded Nykaa in April 2012. It was launched as an ecommerce portal curating a range of beauty and wellness products. The brand name Nykaa is derived from the Sanskrit word nayaka, meaning actress or "one in the spotlight". The website was first launched around Diwali 2012, and was available commercially in 2013.
In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products.In October 2020, the company launched Nykaa Man, India's first multi-brand ecommerce store for men's grooming. The company expanded into fashion by launching Nykaa Design Studio, which was renamed to Nykaa Fashion.
In 2020, Nykaa launched Nykaa PRO. It is a premium membership program that provides users special access to professional beauty products and offers via the Nykaa App. In Dec 2020, Nykaa Fashion launched its first store in Delhi, making the fashion business omni channel.
Ten years after being founded by entrepreneur Falguni Nayar with the goal of inspiring Indian women, Nykaa has evolved into one of India’s largest cosmetics and lifestyle brands. Nearly 10 million people shop there, and a November IPO raised $700 million at a $13 billion valuation—turning Nayar, the CEO, into India’s richest self-made businesswoman. Expansion and marketing led to a 23% drop in net profits in the nine months to December, but revenue grew 65% year-over-year to $376 million.