Bollywood Star Katrina Kaif Invests In Beauty Marketplace Nykaa
Bollywood star Katrina Kaif invested in beauty and e-commerce platform Nykaa. The investment for the undisclosed amount is carried out through a secondary transaction.
Recently the Bollywood actress launched her own beauty line Kay Beauty on Nykaa. In a statement Katrina said that “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,”
She added, “Nykaa has opened new avenues for women to explore and celebrate their own unique idea of beauty.”
Speaking about their association with Kaif over the years, Nykaa founder and CEO Falguni Nayar said, “I admire her work ethic, her understanding of beauty products and most importantly, her vision for building Kay Beauty into a brand that enables women to be the best version of themselves. She’s a wonderful partner and I’m happy this partnership is being further strengthened with her investment in Nykaa.”
Nykaa had earlier in May 2020 raised ₹100 crore ($13 million) from Steadview capital, one of its existing investors. The investment had brought Nykaa a ticket to the unicorn club, having already raised over $100 million in total funding.
According to reports, Nykaa had turned profitable in FY19, posting profits of ₹2.3 crore, while its revenues touched ₹1,159.32 crore.
The eight-year old e-commerce platform has risen rapidly over the years and has over 5 million monthly active users, 70 stores across India, fulfilling over 1.5 million orders a month.