TPG Growth invests Rs 100 crore in Indian beauty retailer Nykaa

Currently, the omnichannel retailer has over 1,000 brands and 100,000 products on website and app, offering global brands such as Aveda, Benefit, Huda Beauty, Make Up For Ever, Flower Beauty, MAC Cosmetics, Bobbi Brown, Estée Lauder and Clinique in India.

Nykaa has been growing its physical store presence in India since 2015 with a current footprint of 35 stores across 15 cities, having premium luxury brands like Tom Ford, Jo Malone London, Dior and Givenchy.

Catering to specific customer bases, it also launched Nykaa Man to build its men's grooming business and Nykaa Pro, a portal for professional beauty consumers. The company is also expanding into the fashion business with the newly launched Nykaa Fashion website and app offering 150+ brands.

“This year has been a great year for us and we are thrilled to close the year by having TPG Growth join our shareholder family. We believe their expertise will help us continue to strengthen the Nykaa playbook. As we look for new ways to serve our customers through initiatives like physical retail, Nykaa Man and Nykaa Fashion, our growth momentum will continue to remain strong in the coming years,” stated Falguni Nayar, founder and CEO of Nykaa.

“With its omnichannel presence, exclusive brand partnerships, high consumer engagement and well-curated product lines, Nykaa has emerged as a disruptive force in the Indian beauty landscape in India. The company is well-positioned to capitalise on its leading position and we are excited to partner with Falguni and the team to accelerate the company’s already impressive growth trajectory,” said Akshay Tanna of TPG Growth.