Online beauty retailer Nykaa raises Rs.75 cr. funding

Date posted: Monday 23 April 2018

Online beauty retailer Nykaa has raised Rs.75 cr. (above $11 million) in its latest round of funding. The total capital raised by the firm stands at about Rs.255 cr. For Nykaa, a large part of the focus will be on expanding its offline presence from 17 stores currently to about 55 stores by FY19-end. The funds will also be used to enhance retail distribution so as to boost its private label, which currently forms less than 10% of the revenue pie.

(ET Tech)