Bollywood star Katrina Kaif invests in Nykaa – a year after she launched her own beauty line on the e-commerce platform
- Katrina Kaif’s investment comes through a secondary transaction.
- Last year, the actress had launched her own beauty line on
Nykaa– ‘Kay Beauty’.
- Nykaa had earlier turned unicorn in May 2020 after it raised ₹100 crore ($13 million) from Steadview capital, one of its existing investors.
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Last year, the actress had launched her own beauty line on Nykaa – ‘Kay Beauty’. “I was familiar with the company’s growing brand equity and market leadership and becoming an investor is the next logical step in sharing the Nykaa vision,” said Katrina Kaif in a statement.
TOP VIDEOS FOR YOUShe added, “Nykaa has opened new avenues for women to explore and celebrate their own unique idea of beauty.”
AdvertisementSpeaking about their association with Kaif over the years, Nykaa founder and CEO Falguni Nayar said, “I admire her work ethic, her understanding of beauty products and most importantly, her vision for building Kay Beauty into a brand that enables women to be the best version of themselves. She's a wonderful partner and I'm happy this partnership is being further strengthened with her investment in Nykaa.”
Nykaa had earlier in May 2020 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.
The 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.
Radhakishan Damani’s strengths are being put to test, and along with it, DMart’s resistance to e-commerce
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