FSN E-Commerce Ventures owns Nykaa, a Mumbai-headquartered beauty and personal care e-commerce platform that sells products across categories such as skin care, hair care and fragrances for women and men. The company was founded in 2012 by Falguni Nayar. In FY 2018-19 Nykaa reported a net profit of Rs 2.31 crore on revenues of Rs 1,161 crore, reversing a loss of Rs 17.71 crore the prior year. Nykaa has raised multiple funding rounds since inception and, excluding the most recent small equity infusion, had raised about $100 million to date. Investors in the company include Sunil Munjal, the family office of Marico promoter Harsh Mariwala, Warburg Pincus and TPG Capital. Nykaa competes with rivals such as Purplle, which is backed by Goldman Sachs and others. FSN Ecommerce Ventures retails beauty and wellness products online under the Nykaa brand, offering roughly 35,000 products for women from over 350 global brands. The company reports delivering more than 35,000 orders per month and attracting over two million people to its website. FSN is promoted by Falguni Nayar, formerly head of Kotak Mahindra Bank's investment banking unit. The business plans to use new funding to accelerate existing growth, launch a private-label line, and scale up marketing efforts. The company is based in Chennai and is positioning to expand its market presence in the ecommerce beauty segment. Nykaa is an inventory-based beauty and wellness e-commerce platform selling branded products across makeup, skincare, hair care, fragrances, bath & body and luxury categories. The portal operates a warehouse in Mumbai and has partnerships with courier companies to ship to more than 900 cities and 9,000 zip codes. The articles state the company offers over 10,000 products/SKUs and lists between about 200 and 300 brands in different sections of the coverage. Nykaa plans to use the Rs 20 crore ($3.4M) funding to boost marketing, introduce new technology and manage inventory, and it projects 4x growth this year and a further 3.5x by 2016. The company is expanding offline with its first store slated to open at New Delhi Airport, offering luxury brands and online-ordering via interactive screens. Nykaa was founded in 2012 by Falguni and Sanjay Nayar; the founders had previously invested $2 million and initially controlled roughly 95% of the company, with the family’s stake declining to about 75–76% after this transaction.

Total raised

$21M

Funding rounds

3

Latest round

Equity

Latest activity

May 2020