Alia Bhatt invests in omnichannel lifestyle retailer Nykaa
Bollywood actor Alia Bhatt has invested an undisclosed amount in omnichannel lifestyle retailer Nykaa through a secondary transaction.
This is the second celebrity investment in Nykaa, after actor Katrina Kaif’s investment in the beauty retailer last year.
Commenting on the development of Bhatt joining the Nykaa investor family, Falguni Nayar, founder and CEO of Nykaa, in a statement said: “Alia and I had a very interesting conversation about how both she and Nykaa were launched in 2012. She said the three reasons she wanted to invest in Nykaa were because it has Indian roots, it is founded by a woman, and Nykaa is proof that the best in India can take on the best in the world. All of us at Nykaa are delighted to welcome her as an investor in the company.”
Despite the Covid-19 pandemic, Nykaa has managed to get investors onboard as it recently raised Rs 100 crore ($13.6 million) from Steadview Capital, increasing its valuation in the process to around $1.2 billion. It was valued at $750 million last year.
Nykaa was founded by Falguni Nayar in 2012, and has become one of India’s largest beauty retailers with over 1,500 brands. The business also runs a dedicated fashion e-commerce site.
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