After Katrina Kaif, Alia Bhatt invests in e-commerce unicorn Nykaa
- Bollywood star
Alia Bhatthas invested an undisclosed amount in beauty e-commerce platform Nykaa.
Katrina Kaif, Bhatt also has made the investment through a secondary transaction.
- In May 2020, Nykaa had raised ₹100 crore ($13 million) from Steadview Capital, one of its existing investors.
Bhatt’s investment comes just days after Katrina Kaif invested in Nykaa. Kaif had launched her own beauty line ‘Kay Beauty’ last year on the platform.
Confirming the investment from Bhatt, Nykaa’s founder and CEO Falguni Nayar said, “Alia and I had a very interesting conversation about how both she and Nykaa were launched in 2012. She said the three reasons she wanted to invest in Nykaa were because it has Indian roots, it is founded by a woman and Nykaa is proof that the best in India can take on the best in the world.”
Nykaa has been upping its game in the e-commerce category. It recently launched Nykaa Man – grooming products for men and has also been ramping up its fashion e-commerce portal Nykaa Fashion.
Earlier in May 2020, Nykaa had raised ₹100 crore ($13 million) from Steadview Capital, one of its existing investors. The investment had brought Nykaa a ticket to the unicorn club, having already raised over $100 million in total funding.
According to reports, Nykaa had turned profitable in FY19, posting profits of ₹2.3 crore, while its revenues touched ₹1,159.32 crore.
AdvertisementThe eight-year old e-commerce platform has risen rapidly over the years and has over 5 million monthly active users, 70 stores across India, fulfilling over 1.5 million orders a month.
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