Lighthouse Advisors picks up stake worth Rs 113 crore in Nykaa

By

Maverick Martins

Published
Sep 6, 2018

Lighthouse India Fund III Limited, an affiliate of Lighthouse Advisors, has picked up a stake worth Rs 113 crore (approx $15.9 million) in leading beauty retailer Nykaa.

Nykaa will be using the funds to expand its physical network and product portfolio. The company plans to add 90 retail stores across India by 2020.
 
Commenting on the investment, Falguni Nayar, founder & CEO, Nykaa in a statement said, “We are excited to welcome Lighthouse to our shareholder base as we launch into our next phase of growth. We believe they will bring to bear their expertise in the retail sector propelling Nykaa to even greater heights.”

Sean Sovak, a co-founder of Lighthouse, added, “We are truly thrilled to become a shareholder in Nykaa. What Falguni and team have created is nothing short of brilliant, completely disrupting the personal care market in India, by focusing on ease of access and superior customer experience. We are excited by the opportunity ahead for the company.”
 
For the 2017/ 2018 financial year, Nykaa witnessed 166 percent growth in its sales revenue to Rs 570 crore (approx $85.7 million) from Rs 214 crore (approx $32.2 million) it had posted in the year-ago period.
 
Nykaa currently has 17 brick and mortar outlets across India and aims to add more 38 stores by March 2019. Nykaa was launched online by Falguni Nayar in 2012.

The business now sells over 850 brands and 100,000 products and has launched a number of international brands in India.