Multi-brand beauty retailer Nykaa raises Rs 100 crore from private equity firm TPG Growth, total valuation at Rs 5,000 crore
Nykaa founder and CEO Falguni Nayar has said that the company is looking to push its new initiatives like Nykaa Man and fashion and apparel categories
Nykaa has reportedly raised Rs 255 crore so far and this excludes the TPG Capital's investment offer.
Online penetration of retail in India is still around some 20 per cent, in fact some 10 per cent for most categories.
Nykaa’s strategy is mall-led and the firm hopes to touch a turnover of Rs 100 crore pretty soon, says Falguni Nayar, CEO, Nykaa.