Love using cosmetics right? Want to buy a few required products by today itself? "Mom, it's really very urgent for me!" Finally, mom says, "not today beta, any other day, please my angel!" And then you are like, "okay".
Girls, this is not going to happen anymore! No more you all need to sit back quietly at your homes.
Nykaa is here now to just advice you and fulfil your wishes whenever you are unable to go out and shop. Read the Nykaa success story below, know more about your favourite company and get your hearts robbed for the lovely products available here at Nykaa.
Company Highlights
| Startup Name | Nykaa |
|---|---|
| Headquarter | Mumbai, Maharashtra, India |
| Sector | Online shopping; cosmetics |
| Founder | Falguni Nayar |
| Founded | 2012 |
| Parent Organization | Kotak Mahindra Capital Company |
| Industry | Ecommerce |
Nykaa - About
Nykaa - How Did It Start?
Nykaa - Founder And Team
Nykaa - Tagline, Slogan And Logo
Nykaa - Marketing Strategy
Nykaa - Business Model
Nykaa - Revenue Model
Nykaa - Funding And Investors
Nykaa - Growth
Nykaa - Future Plans
Nykaa - About
Nykaa is a beauty retail company that sells cosmetic commodities both online and offline. It serves the area of India only. It has got a wide range of wellness and beauty products. The brand name 'Nykaa' is derived from the Sanskrit word 'nayaka' which means 'one in the spotlight'.
Nykaa - How Did It Start?
The company started its journey in the year 2012. It initially started as an online corporation. But eventually, it switched itself into an omnichannel strategy in it's coming years. It is Mumbai based and almost it has got 46 stores by now in India. Women usually work a lot, starting from the dawn and ending to the dusk. So personal care is essential. Which is why this company started years ago aiming towards making all simple women extraordinary in every aspect.
StartupTalky
Nykaa - Founder And Team
Falguni Nayar is the founder of the team Nykaa, which is presently one of India's biggest lifestyle and fashion portal. She served for 20 long years as a venture investor and merchant with Kotak Mahindra Bank. Later, she resigned and announced her departure publicly to pursue her dream. She created Nykaa and it started creating history right from the beginning and hasn't stopped yet. She is a big example for the entire world that her age is just a number in case of entrepreneurship.
Nykaa - Tagline, Slogan And Logo
The company's tagline is 'Your Beauty, Our Passion'. There was a partnership occurrence between Nykaa and Peanut Butter where there was another slogan by their side, which is 'Beauty Anytime, Anywhere'.
"Company strives to curate products that suits consumer's fascination, says Falguni Nayar, CEO and Founder, Nykaa."
The brand colour was very carefully chosen because especially it's for ladies and the colour red and pink would perfectly reflect a modern girl's flaws and vibrance.
Nykaa - Marketing Strategy
This company's marketing strategy is the promotion of its beauty and wellness products. They advertise their products online on various pages, websites, blogs etc. In order to gain success, they collaborated with Femina to host the 'Nykaa.com' which is now very popular and known by all for its proper working and dealing with its consumers. Their marketing and content strategy is already built over the last seven years and it's strong indeed. Therefore it's one of the largest omnichannel beauty players in the nation.
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Nykaa - Business Model
All the dads, husbands, boyfriends and lovely ladies knows the name 'Nykaa' very well. Didn't you people ever think that how is it running? Who is the mastermind behind the game being played? I will tell you this today!
It basically deals with high-end products like Lakme, MAC etc. So, as a result, the commission also gets elevated in such cases. As you all know, cosmetic products have got a really high margin. So, the answer is that the business is very profitable. The company has taken the entire thing to a different level!
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Nykaa - Revenue Model
It uses digital marketing as a means to market their website. The average cart size of Nykaa is Rs.1250 - Rs.1550. Affordable right? I think it is. It allows its users to purchase cosmetics, skincare, haircare and fragrances. The revenue produced by operations was recorded at Rs.1159.32 crores. The platform follows an inventory-led model and has got its own private model. Expenditure is increasing more than double of the financial year's. However, the Mumbai based online platform almost turned out to be beneficial and profitable for itself as well as for its consumers.
Nykaa - Funding And Investors
The company has raised Rs.100 crores from existing investor - Steadview. It gives capital to the company as a means of primary investment. With the help of this fundraised, the company's evaluation stands now at around $1.2 billion. After this consumption 'Nykaa' again raised a fund of $30 million from the same investor, mentioned above, as a secondary share sale. The total funding amount is $145.9 million. It's funded by 12 investors. Please don't think that Steadview is the one and only. The company says that they deeply believe and trust their investors, brand partners and their loving consumers.
Nykaa - Growth
In the year 2019, the company had a growth rate of 78%. The online BPC retailer's growth rate has considerably got decreased over the years. However, the company obtained funding of net worth 14 million to compensate. The Mumbai based company says publicly that, it's consumers have helped the company to build its empire. In the year 2018, they said that it was a 12-year journey for them and growth came to them slowly as they started building stores around 35 then all over India. Before the company was interested a lot in building TGP. But now the company had closed it's latest financing round.
Nykaa - Future Plans
The company is aiming towards expanding its offline business. It wants to expand its offline evidence by opening 180 stores by 2024. Nykaa - the multi brand beauty product company will expand its physical existence by opening more than 180+ stores all over India and also it holds a dream of growing it's offline business more and more with the upcoming years.
Author: Purbalee Dutta
Source : https://startuptalky.com/nykaa-success-story/
Date : 2020-08-28T16:10:39.000Z