I might have successfully grabbed your attention!
How? Because Nykaa is the only hot topic of discussion nowadays, and if you’ve come this far, you probably would want to learn everything about the buzzword.
It’s said that “Beauty lies in the eyes of the beholder;” however, nobody can take their eyes off the cosmetic products that help enhance one’s features.
The global beauty industry has always managed to allure its audience, and today, it has built a tremendous customer base. So, unsurprisingly, each of you will agree that we have witnessed the growth of Nykaa- an online beauty store that caters to all our beauty and personal care needs!
The big news that has now caught everyone’s attention is the company’s IPO launched for subscription from October 28 to November 1, 2021.
The platform’s IPO was subscribed 81.78 times over the offered 2.64 crore shares mark.
Isn’t it mind-boggling?
To reveal more to the readers, this blog is being shared with you to pay heed to all the minor and major details. So, let’s get straight to the business!
Nykaa Playing an Intrinsic Role by Bringing E-Commerce and Beauty Together!
Who doesn’t like picking up makeup products or pampering themselves with the best skincare products?
We could imagine those eyes glittering!
However, long gone are the days when people had to visit cosmetic stores to buy their favorite products.
In fact, the question is, why would anyone rely on brick-and-mortar stores when we could get our hands on the best beauty mobile app?
Undoubtedly, the COVID-19 period has been tough for all the businesses; however, a few platforms stayed intact despite all the destruction and lows the pandemic brought along. Fortunately, one of the biggest e-commerce beauty and wellness products platforms survived the same and has become the foremost option for beauty products in India.
All in all, the platform specializes in a wide-ranging collection of fragrances, haircare, skincare, bath & body, and last but not least, COSMETICS!
Apart from what the platform offers to women, it facilitates a massive range of grooming items for men.
What’s more? The cherry on the cake for the company is its collection of 1.5 million per month across India.
From Seed to a Massive Tree: The Origin of Nykaa
Nykaa was established in 2012 by an MBA graduate, Falguni Nayar, who initially worked at Kotak Mahindra for 18 years. After realizing about experimenting in other areas, she made the decision, and her perfect vision for Nykaa- an e-commerce mobile app has brought her brand where it is today!
Let’s not overlook the fact that those times faced an inadequacy of handy online brands; therefore, it is precisely what Falguni Nayar tried to change. She discovered the inconsistency in the beauty product market in India, and it made her set up Nykaa, which has now converted into an omnichannel platform.
But what sets Nykaa aside?
Unquestionably, the market is now witnessing an exceptional rise in competitors; however, Nykaa still managed to stand strong.
It is because of its unique inventory model in which the products are bought through brands and sold directly to the consumers. In simple words, there’s no involvement of any third-party sellers, enabling the platform to keep hold of original items.
Let’s Take a Look at the Figures!
Active users- 80 million
Stores across India- 80
Brands Nykaa work with- 500
What helped Nykaa achieve these numbers?
The answer is the shift made by Nykaa from an exclusive online store to being an omnichannel model. The transformation has a crucial role to play behind the successful mechanism and accomplishments of the brand.
Nykaa Funding and IPO
On October 27th, 2021, Nykaa’s parent company, FSN E-Commerce Ventures Ltd, claimed that they had raised about ₹2,396 crores from anchor investors.
In November 2020, Fidelity Management and Research Company invested a hidden amount in the platform.
In April 2020, a funding of $13 million raised by the platform helped it make it through the unicorn club.
Some other top investors of the platform are TPG Growth, Steadview Capital, and Lighthouse Funds.
During the IPO launch, the company fixated a price band of Rs 1,085-1,125 for the maiden offer.
Undeniably, the action received a plausible response after it was open for subscription. Not only this but the platform also got listed on NSE and BSE, after which it made through the ₹1 lakh crore market capitalization club.
Nykaa has over 1,30,000 products available on its app as well as stores, and it is continuously launching a range of new products. The platform is also integrating celebrity endorsements and is looking forward to achieving the bigger plans it has.
As mentioned earlier, it all began with launching a mobile app that helped Nykaa become so big today! So even if you’re planning to launch your IPO’s, you’ll need a robust mobile app, and we can help you achieve the same.
Are you all set to recite your success story in the future?
Dreams do come true, and Techugo- a leading mobile app development company can help you big time to achieve the same. So, connect with us today and turn your vision into reality!