ETtechNykaa and French cosmetics and beauty conglomerate L’Oréal’s venture capital fund, Business Opportunities for L’Oreal Development (BOLD), will jointly invest in Indian beauty and personal care (BPC) brands, according to a stock exchange filing by the Mumbai-based retailer.
Under this, BOLD and Nykaa will take minority stakes in the BPC brands they invest in, according to the statement.
“Such investments will be purely financial and minority in nature, where founders retain full ownership control and continue to run their businesses independently, with their own teams, culture, and creative direction,” it said.
Nykaa did not disclose the cheque size for the investments and the corpus the companies plan to deploy.
Both BOLD and Nykaa will act as long-term partners of the brands and provide them opportunities under L’Oréal’s global expertise and Nykaa’s omnichannel retail network to help them scale up fast.
Launched in 2018, BOLD has invested in BPC brands such as Deconstruct, Arata and Chosen in India.
“India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs,” said Jacques Lebel, managing director, L'Oréal India.
“Through BOLD and this partnership with Nykaa, we want to stand behind that talent—backing founders with capital, mentorship, and L'Oréal's beauty expertise, while leaving them free to build their brands their way,” he added.
Commenting on the development, Anchit Nayar, executive director and CEO, Nykaa Beauty, said, “Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of.”
Nykaa has been building a portfolio of BPC brands under its House of Nykaa vertical through a mix of in-house brands including Kay Beauty and Nykaa Cosmetics & Naturals, as well as acquired brands such as Dot & Key and Earth Rhythm.
Under this, BOLD and Nykaa will take minority stakes in the BPC brands they invest in, according to the statement.
“Such investments will be purely financial and minority in nature, where founders retain full ownership control and continue to run their businesses independently, with their own teams, culture, and creative direction,” it said.
Nykaa did not disclose the cheque size for the investments and the corpus the companies plan to deploy.
Both BOLD and Nykaa will act as long-term partners of the brands and provide them opportunities under L’Oréal’s global expertise and Nykaa’s omnichannel retail network to help them scale up fast.
Launched in 2018, BOLD has invested in BPC brands such as Deconstruct, Arata and Chosen in India.
“India is one of the most exciting beauty markets in the world, and its energy comes both from an expanding base of demanding consumers with rapidly evolving needs and from its ecosystem of tremendous entrepreneurs,” said Jacques Lebel, managing director, L'Oréal India.
“Through BOLD and this partnership with Nykaa, we want to stand behind that talent—backing founders with capital, mentorship, and L'Oréal's beauty expertise, while leaving them free to build their brands their way,” he added.
Commenting on the development, Anchit Nayar, executive director and CEO, Nykaa Beauty, said, “Combining our strong consumer ecosystem, deep retail network and wide distribution, along with L’Oréal’s global beauty expertise will be an incredibly valuable asset to the next generation of founders as they look to build consumer brands that India can be proud of.”
Nykaa has been building a portfolio of BPC brands under its House of Nykaa vertical through a mix of in-house brands including Kay Beauty and Nykaa Cosmetics & Naturals, as well as acquired brands such as Dot & Key and Earth Rhythm.
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