Mumbai-based fashion and beauty e-commerce platform, Nykaa, has closed its latest financing round led by TPG Growth, the investing arm of private equity major TPG Capital. It has raised $14 miilion (Rs 100 crore), taking the companys valuation to over $750 million. Falguni Nayar, Founder & CEO, Nykaa.com, in an exclusive interview with Neha Bothra of ETNOW.
You have recently raised $14 million (Rs 100 crore) from TPG Growth. What led to this connect?
It has been a seven-year journey. We have come a long way with a pretty significant business in terms of online beauty retailing and we now have a number of stores. We are at 35 stores and we continue to grow.
We have got into new initiatives like fashion. We have our own private label called Nykaa cosmetics as well as Nykaa Bath and Body. There are a number of ranges within the private label offerings that we have. So, there is a lot going on and it is all recognition of a solid interconnected business that we are building that TPG was interested in, We have a real consumer connect with our customers which you can see through all our social media channels. That strong connect along with the wide business that we are building, is what got TPG Growth excited.
Your business has a valuation at $750 million. It has grown quite substantially over the years, Can you give some projection about what is the potential for Nykaa? How do you see this game changing in the years to come?
As an online website, We get 40 million visitors a month from 15 million unique visitors. Last year, we had done revenues of Rs 570 crore but this year which is year ended March 2019, we are likely to close at Rs 1,200 crore. That is a very significant revenue growth over one year. I expect the growth momentum to continue.
We have more than 1,000 brands on our website and we continue to make the destination interesting by bringing in more. The consumers are just loving the offerinRead More – Source