The Success Story of Nykaa – India’s first beauty product based Unicorn startup
Before writing about this article, I would like to know how many eCommerce platforms become successful in India? Here successful means profitable.
The answer is Zero. Either they got acquired (Walmart acquire Flipkart) or listed (like Infibeam) but none of them become profitable.
Over 20+ eCommerce platform try their luck in India in 10 years but none of them become successful until Nykaa, a retailer brand selling beauty, wellness, and fashion products came into the online service.
In 2015, the company expanded from online-only to an omnichannel model and began selling fashion products.
Journey So far:
Falguni Nayar, a former managing director at Kotak Mahindra Capital Company, founded Nykaa in 2012. It was launched as an eCommerce portal curating a range of...