Nykaa to close second round funding at Rs 50 crore

Online retailer of beauty brands Nykaa.Com, founded by former investment banker Falguni Nayar, is about to close its second round of funding at Rs 50 crore.
"We are closing a round of funding of Rs 50 crore soon. The second round of funding will help the firm launch products under its own label starting August, and Nykaa will also open more offline stores by the end of 2016", Nayar told PTI.
"We will start selling products under our own label starting this August, and are also looking to open up three or four more stores by end-2016," she added.
Nykaa opened its first offline store last year at the T3 terminal of Delhi airport.

After setting up a strong e-commerce module, Nykaa is now looking at organically growing it into "an omni-channel retailing firm".
The retailer will also add six or seven new brands to the existing list of 320 brands it retails across categories of bath and body, fragrances, hair care, makeup, skincare and luxury products for men and women, she said.

The firm employs 120 people, and has hired an additional seven "top level employees" from various fields to channelise its own label launch.
Nykaa works on an inventory-led model and has over 18,000 stock-keeping units. It buys various brands and stocks the goods in two warehouses, in Mumbai and Delhi.

The online portal draws about 1.5 million unique visitors a month, and close to half of its business comes through repeat visitors, Nayar claimed.