The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Mumbai-based platform for personal care products will launch its initial public offering on Oct. 28 to raise up to 52 billion rupees (around $695.8 million), a source told the Economic Times.
A separate source told the publication that Nykaa will seek a valuation of $7.4 billion. Local media outlets have also announced the e-tailer’s acquisition of local direct-to-consumer skincare brand Dot & Key, though terms of the deal were not disclosed. The move is said to be Nykaa’s attempt to cater to a wider range of shoppers and cover new categories, including nutritional supplements, which Dot & Key expanded into recently.
Founded in 2012, Nykaa sells over 4,000 beauty brands and is among India’s few profitable e-commerce platforms, according to the Economic Times.
Learn more:
ADVERTISEMENT
How India’s Nykaa Aims to Beat Sephora
The Indian beauty unicorn is preparing for an IPO that could see it reach a valuation of $3 billion thanks to persuasive digital marketing and a hyper-local merchandise mix.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.