Online Retailer Nykaa.com To Raise Rs 60-100 Cr
Online beauty retailer Nykaa.com today said it plans to raise Rs 60-100 crores for marketing and setting up warehouses even as it focuses on opening more retail outlets to deepen its footprint.
"We plan to raise another Rs 60 to Rs 100 crore from private sources...majority of investment will be into marketing to build the brand, warehouses and also on technology to enable more number of shoppers to shop simultaneously on the portal," Nykaa.com Founder and CEO Falguni Nayar told reporters here.
The company had raised USD 9.5 million from private equity firm TVS Capital last year.
To expand its offline presence, the former investment banker said the company plans to open 30 stores in 30 cities by 2020.
She further said the company has three warehouses in Mumbai, Delhi and Bengaluru. "W...