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Indian Beauty E-tailer Nykaa Sets IPO Date, Acquires DTC Skincare Brand

Founded in 2012, Nykaa’s platform lists more than 1,200 brands ranging from makeup, skincare to health supplements and hair dryers. Shutterstock
Founded in 2012, Nykaa’s platform lists more than 4,000 brands ranging from makeup, skincare to health supplements and hair dryers. Shutterstock.

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:

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.

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