Nykaa, an online beauty products retailer raises funds

CoolAvenues Newswire | June 03,2014 08:31 pm IST

Nykaa, an online retailer of beauty products has raised $3.4 million from investors including an Indian business family and a hedge funds by diluting 20% stake.

The company will use the funds to expand its online business as well as for setting up its first offline retail store in Terminal 3 of the New Delhi airport. The company is targeting a turnover of over Rs. 100-120 crores over the next two years.

Nykaa, a Mumbai based e-commerce company was started by Ms. Falguni Nayar, an investment banker along with her husband Mr. Sanjay Nayar with an initial investment of $ 2 Million in 2010.

Nykaa.com offers a comprehensive selection of makeup, skincare, hair care, fragrances, bath and body and luxury products for women and men. All products are 100% authentic, sourced directly from the brands or authorized distributors.

Nykaa has about 200 brands and more than 10,000 products. Nykaa ships products to more than 900 cities across the country to almost 9,000 zip codes using the services of leading and reliable courier companies.



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