E-Commerce beauty brand Nykaa made a strong stock market debut, with shares listed at Rs 2,018, a 79 per cent premium over to its issue price of Rs 1,125 per share on the National Stock Exchange (NSE) on Wednesday. Nykaa is the largest specialty beauty and personal care platform in India and one of the fastest-growing fashion platforms, which has not only drawn millions of customers across the country but also attracted a string of Bollywood A-listers who are lending their considerable star power to the brand by investing in it.
In 2020, Bollywood actress Katrina Kaif invested an undisclosed amount in the beauty and e-commerce platform through a secondary transaction. Katrina’s investment came a year after she had launched her own beauty line on Nykaa – ‘Kay Beauty’. “I was familiar with the company’s growing brand equity and market leadership and becoming an investor is the next logical step in sharing the Nykaa vision. Nykaa has opened new avenues for women to explore and celebrate their own unique idea of beauty,” Katrina had said in a statement.
Katrina, who will next be seen in Yash Raj Films’ Tiger 3, was also present at Nykaa’s listing ceremony on the NSE on Wednesday. Nykaa was founded in 2012 by Falguni Nayar, who is married to KKR India head Sanjay Nayar. Nykaa provides a curated range of beauty products for women.
In October last year, actress Alia Bhatt also made a personal investment in the omnichannel lifestyle retailer through a secondary transaction for an undisclosed amount. Confirming the investment from Alia, Nykaa’s CEO Falguni Nayar had 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.”
In 2019, Masaba Gupta had launched a makeup line with Nykaa. The collection included a range of twelve shades of lip and nail colours and a dip in polish remover, all wrapped up in her signature prints. The ace fashion designer once again collaborated with the brand to launch a collection of six new fragrances last year. This collection was an extension of ‘Moi by Nykaa’ fragrance range.
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