Nykaa closes series D investment round of Rs 165 crores

New Delhi [India], May 14 (ANI): Leading beauty retailer, Nykaa, on Monday closed its series D investment round of Rs. 165 crores. This round includes both primary investment and secondary exit of some early stage investors.

Importantly many of the early stage investors including Sunil Kant Munjal, Chairman, Hero Corporate Service P Ltd, Family Offices of Harsh Mariwala and Dalip Pathak, private equity veteran has reinvested in this round amongst others.

The funding will help to fund the growth capital as well as expand the retail footprint.

For the financial year 2017-18, Nykaa reported a net revenue of Rs. 570 crores as compared to Rs. 214 crores for FY 2016-17.

Nykaa is continuing to see strong year on year growth and is expected to be profitable in FY '19.

Since its launch in 2012, Nykaa has been committed to offering its customers the best of beauty from India as well as the world.

The retailer now offers over 850 brands and 100,000 products.

By bringing brands like M.A.C, Bobbi Brown, Clinique, Estee Lauder and Smashbox Cosmetics online, it was the first to make luxury beauty available to its customers and today the luxury vertical accounts for 15 percent of total revenue.

Nykaa was also the first to introduce cult beauty brands like Huda Beauty, Wet n Wild and NYX Cosmetics to the Indian market.

Keeping a pulse on global beauty trends Nykaa leads the Korean Beauty conversation with launch of brands like The Face Shop, It's Skin and Innisfree, as well as an exclusive collection of Indian-inspired Dear Packer sheet masks.

Since 2015, Nykaa has taken an omni-channel approach to beauty retail, opening stores across the country.

Nykaa currently has 17 stores in India in two formats - Nykaa Luxe and Nykaa On Trend.

The On Trend stores offer a unique curatorial experience featuring bestselling products chosen from over 100 beauty brands, while the Luxe format focuses on the complete offering from the prestigious beauty brands.

Nykaa recently opened its flagship Nykaa Luxe store at DLF Chanakyapuri, New Delhi, featuring over 50 luxury brands across 2500 sqft of beautifully styled space.

It aims to open 55 stores by March 2019. (ANI)

This story has not been edited. It has been published as provided by ANI