The investment comes 9 months after Nykaa raised Rs 166 crore in a main transaction from Steadview Capital at a valuation of $1.2 billion, which catapulted the eight-year-old firm into the coveted Unicorn membership.
“We’re very excited to have Constancy, one of many largest asset managers on this planet, to affix as accomplice in our development journey,” mentioned Falguni Nayar, founder and CEO of Nykaa. “Nykaa’s concentrate on enterprise sustainability and company governance additional helps such robust investor confidence.”
The corporate mentioned it had benefitted from the tailwinds attributable to the Covid-19 pandemic, with shoppers preferring to buy on-line from the security of their properties.
This has allowed Nykaa to extend its share within the magnificence market, the corporate mentioned, with out disclosing specifics.
Nykaa added that it had clocked revenue of Rs 1,860 crore for the 12 months ended March 31, 2020 and is anticipating a 40% development in consolidated income within the ongoing fiscal.
Final month, Nykaa advised ET that it expects its
new fashion business to top Rs 500 crore in sales within the present fiscal 12 months, a 5X development over gross sales within the earlier 12 months.
Development can be being pushed by a robust revival of style gross sales through the festive interval, it mentioned.
Nykaa has a portfolio of over 300,000 merchandise and companions with greater than 1,500 manufacturers.
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