💅 After Beauty, Fashion, Nykaa Forays Into Digital Content-Cum-Commerce

Nykaa is set to buy Iluminar Media, an online retailer known for its Little Black Book brand of digital content (LBB). FSN E-commerce, which operates under the Nykaa brand, did not disclose the commercials but confirmed that the purchase is consistent with Nykaa’s core philosophy of putting content first when interacting with its devoted customer base.

A smart move — yet again, Nykaa!

Nykaa’s acquisition will continue to drive discovery and spotlight promising home-grown brands across their channels.

Co-founded by Suchita Salwan and Dhruv Mathur in 2015, LBB had total revenue of Rs 19.44 crore in 2021–22.

Coming Stronger

The cosmetics-to-fashion retailer also expects stronger demand for its products in the current quarter after a ‘subdued season’ where inflationary pressures dented consumer spending.

In the quarter ending in June, gross merchandise value (GMV) increased 47% to Rs.21.56.

GMV of its fashion arm increased by 59%, while that from its beauty and personal care division increased by 39%.

The business made a solid market entry in November 2021 with its IPO, earning the nation’s first women-led unicorn a valuation of close to $14 billion.

Too long? Here’s a one-liner: Nykaa acquires digital content-cum-commerce firm, Iluminar Media, known as Little Black Book (LBB), and expects stronger demands for its products in the coming festive season.